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SHFE Lead to Stabilize (2016-9-23)
Sep 23, 2016 09:59Source:SMM
LME lead will fluctuate between USD 1,940-1,960/mt on Friday and SHFE 1611 lead is expected to move at RMB 14,450-14,650/mt.
SHANGHAI, Sept. 23 (SMM) – Eyes should be on movement of US dollar index on Friday and flash manufacturing PMI from euro zone in September, which is expected to be lower than August’s level.
LME lead will fluctuate between USD 1,940-1,960/mt on Friday. SHFE 1611 lead fluctuated at around RMB 14,570/mt on Thursday and the contract is expected to move at RMB 14,450-14,650/mt today.
In China’s domestic market, spot premiums stay firm and downstream battery producers choose to watch from sidelines. Spot lead should be traded at RMB 14,450-14,550/mt on Friday.
LME lead price
SHFE lead price
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