SHANGHAI, Aug. 11 (SMM) – LME lead will suffer pressure from stronger dollar and will narrowly range USD 1,810-1,830/mt during Asian trading hours Thursday.
US last week’s initial jobless claims may be positive, which will ease declines in US dollar. This will give pressure on lead prices.
SHFE 1609 lead will fluctuate between RMB 13,650-13,850/mt on Aug. 11. In China’s spot market, cargo holders give offers as usual and hold back sales. Downstream buyers will watch from the sidelines and mainly favor term purchase. Spot lead will trade at RMB 13,700-13,850/mt today.