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LME Lead Sets for Gains (2016-9-20)
Sep 20, 2016 09:53Source:SMM
LME lead should range between USD 1,940-1,960/mt on Tuesday and SHFE 1611 lead will move at RMB 14,350-14,550/mt.
SHANGHAI, Sept. 20 (SMM) - US Fed will hold two days meeting over interest rate decision on Tuesday, which may have a great effect on commodities. Eyes should be on US housing starts in August, which are expected to be lower than July’s level.
LME lead should range between USD 1,940-1,960/mt on Tuesday. SHFE 1611 lead rose to RMB 14,450/mt on Monday. And the contract will move at RMB 14,350-14,550/mt today.
In China’s domestic market, cargo holders offer prices as usual with tightening supply. Downstream battery producers choose to stand sidelines with rising SHFE 1611 lead and mainly purchase goods under term contracts after holiday. Spot lead should increase by RMB 175/mt to RMB 14,300-14,450/mt on Tuesday.
SHFE lead price
LME lead price
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