SHANGHAI, Aug. 17 (SMM) – LME lead will grow to USD 1,865-1,885/mt during Asian trading hours Wednesday.
Eyes will be on US EIA report for the week ending August 15, which may be negative. This will boost base metal prices.
SHFE 1609 lead will fluctuate between RMB 13,450-13,650/mt on Aug. 17. In China’s spot market, traders rush to sell with expanded spot premiums. Downstream buyers will watch from the sidelines and favor term contracts. Spot lead will trade at RMB 13,650-13,750/mt today.