LME Lead to Stay Range-Bound (2016-8-18)

Published: Aug 18, 2016 09:21

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LME lead will range USD 1,865-1,885/mt during Asian trading hours Thursday with stronger dollar.

SHANGHAI, Aug. 18 (SMM) – LME lead will range USD 1,865-1,885/mt during Asian trading hours Thursday with stronger dollar.

Eyes will be on US initial jobless claims in the week ending August 13 and US August Philadelphia Fed's manufacturing index, which may be positive. This will boost US dollar.

SHFE 1609 lead will edge up to RMB 13,500-13,700/mt on Aug. 18. In China’s spot market, traders rush to sell with expanded spot premiums. Downstream demand improves slightly. Spot lead will trade at RMB 13,650-13,800/mt today.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-18)

LME lead price SHFE lead prices

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