LME Lead to See Range-Bound Trading (2016-9-8)

Sep 8, 2016 09:54

LME lead should move at USD 1,910-1,930/mt and SHFE 1610 lead will fluctuate between RMB 14,050-14,250/mt today.

SHANGHAI, Sept. 8 (SMM) – Attention should be on China’s import and export data and US’s initial jobless claims on Thursday.

LME lead should move at USD 1,910-1,930/mt on Thursday. SHFE 1610 lead soared at first and then dropped on Wednesday. And the contract will fluctuate between RMB 14,050-14,250/mt today.

In China’s domestic market, traders offer prices actively but downstream battery producers choose to stand sidelines with pessimistic outlook. This will leave trading quiet. In China’s market, spot prices are predicted to decline by RMB 100/mt to RMB 14,100-14,200/mt today with falling SHFE 1610 lead

SHFE lead price

LME lead prices

lead prices

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LME Lead to See Range-Bound Trading (2016-9-8)

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