SHFE Lead to Keep Upward Momentum (2016-9-21)

Sep 21, 2016 09:37

Source:SMM

LME lead should fluctuate at USD 1,970-1,990/mt today and SHFE 1611 lead will move at RMB 14,600-14,800/mt.

SHANGHAI, Sept. 21 (SMM) – Eyes should be on Bank of Japan’s interest rate decision on Wednesday. LME lead should fluctuate at USD 1,970-1,990/mt today. SHFE 1611 lead rose to around RMB 14,700/mt on Tuesday and the contract will move at RMB 14,600-14,800/mt on Wednesday.

In China’s domestic market, traders 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 200/mt to RMB 14,500-14,600/mt on Wednesday.

LME lead price

SHFE lead price

lead prices

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SHFE Lead to Keep Upward Momentum (2016-9-21)

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