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SHFE Lead to Stay Firm (2016-9-28)
Sep 28, 2016 10:25Source:SMM
LME lead will range at USD 1,945-1,965/mt on Wednesday and SHFE 1611 lead should stay firm and move between RMB 14,500-14,700/mt.
SHANGHAI, Sept. 28 (SMM) – Attention should be on flash reading of US durable goods orders in August on Wednesday, which is predicted to be lower than July’s level. US dollar thus may keep fluctuating at current level. LME lead will range at USD 1,945-1,965/mt on Wednesday and SHFE 1611 lead should stay firm and move between RMB 14,500-14,700/mt.
In China’s domestic market, downstream stock-building demand keeps rising with the upcoming China’s National Day Holiday during October 1-7. And spot lead supply remains tight, thus supporting SHFE 1611 lead. Spot lead should increase by RMB 25/mt to RMB 14,450-14,600/mt on Wednesday.
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