LME Lead to Move in a Tight Range Next Week, SMM Predicts

Published: Sep 9, 2016 13:54

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LME lead is expected to see range-bound trading in the coming week following volatile movements in previous two weeks.

SHANGHAI, Sept. 9 (SMM) – LME lead is expected to see range-bound trading in the coming week following volatile movements in previous two weeks, and should fluctuate around $ 1,900 per tonne, SMM lead group foresees.

SHFE 1610 lead extends losses with declines in trading volumes and trading shows no marked improvement in China’s domestic market. Also, the restarted capacities will be released to market progressively. As such, SHFE 1610 lead will be sensitive to 14,000 yuan per tonne in the coming week.

Spot lead in China may trace SHFE lead down to 14,000-14,150 yuan per tonne in the coming week. Trading should pick up marginally following declines in spot prices.

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