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.