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Home / Metal News / LME Lead Remains Range-Bound (2016-8-31)

LME Lead Remains Range-Bound (2016-8-31)

Aug 31, 2016 09:42

LME lead should range between USD 1,860-1,890/mt on Wednesday and SHFE 1610 lead to range between RMB 13,750-13,950/mt.

SHANGHAI, Aug. 31 (SMM) – Eyes should be on US’s August ADP employment data on Wednesday. LME lead should range between USD 1,860-1,890/mt on Wednesday. SHFE 1610 lead, fluctuating at around RMB 13,850/mt after opening slightly higher on Tuesday, is expected to range between RMB 13,750-13,950/mt on Wednesday.

Traders offer prices actively and premium of spot lead against SHFE 1610 lead has narrowed. Downstream battery producers purchase based on orders at the end of month. Trading is quiet in China’s domestic market. Spot prices are predicted to be flat at RMB 13,800-13,950/mt.

LME lead prices

SHFE lead prices

lead prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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