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LME Lead to See Range-Bound Trading (2016-9-9)
Sep 9,2016 09:36CST
SMM Comments
Source:SMM
LME lead is predicted to move at USD 1,910-1,930/mt on Friday and SHFE 1610 lead will range between RMB 14,050-14,250/mt.

SHANGHAI, Sept. 9 (SMM) – Eyes should be on China’s CPI and PPI and movement of crude oil on Friday. LME lead is predicted to move at USD 1,910-1,930/mt on Friday. SHFE 1610 lead dropped at first but then increased on Thursday. The contract will range between RMB 14,050-14,250/mt on Friday.

In China’s domestic market, traders offer prices actively while downstream battery producers take a wait-and-see stance and purchase only in a small amount. Thus, trading should remain sluggish. Spot lead should be traded at RMB 14,100-14,250/mt on Friday with fluctuating SHFE 1610 lead. 


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