SHFE Lead to Drift Lower (2016-9-7)

Published: Sep 7, 2016 09:32

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LME lead should fluctuate between USD 1,935-1,955/mt on Wednesday and SHFE 1610 lead will range at RMB 14,250-14,450/mt.

SHANGHAI, Sept. 7 (SMM) – Eyes should be on US dollar and crude oil on Wednesday. LME lead should fluctuate between USD 1,935-1,955/mt on Wednesday. SHFE 1610 lead dropped below the 5-day moving average on Tuesday. And the contract should range at RMB 14,250-14,450/mt on Wednesday.

In China’s spot market, traders offer goods actively while downstream battery producers take a wait-and-see stance. Spot trading shows no notable improvement from Tuesday. Spot prices should drop by RMB 100/mt to RMB 14,200-14,300/mt with SHFE 1610 lead.

LME lead prices SHFE lead prices lead prices

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