LME Lead to See Range-Bound Trading (2016-9-19)

Sep 19, 2016 09:44

LME lead is expected to range between USD 1,925-1,945/mt on Monday and SHFE 1610 lead will move at RMB 13,950-14,150/mt.

SHANGHAI, Sept. 19 (SMM) – Eyes should be on US Federal Reserve’s interest rate decision this week and Fed officials have not reached consensus on interest rate hike in September yet. LME lead is expected to range between USD 1,925-1,945/mt on Monday. SHFE 1610 lead fluctuated above RMB 14,000/mt last Wednesday. The contract will move at RMB 13,950-14,150/mt on Monday.

In China’s domestic market, traders offer prices firmly while downstream battery producers purchase based on orders and should keep standing sidelines after China’s Mid-Autumn Festival during September 15 to 17. Spot trading may improve slightly. Spot lead should be traded at RMB 14,050-14,150/mt on Monday.

SHFE lead price

LME lead price

lead prices

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LME Lead to See Range-Bound Trading (2016-9-19)

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