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SHFE Lead to Remain Range-Bound Trading (2016-10-19)

iconOct 19, 2016 09:44
Source:SMM
LME lead is predicted to range at USD 1,975-1,995/mt on Wednesday and SHFE 1611 lead will move at RMB 15,450-15,650/mt.

SHANGHAI, Oct. 19 (SMM) – Attention should be on China’s large industries added value in September on a yearly basis on Wednesday. LME lead is predicted to range at USD 1,975-1,995/mt on Wednesday. SHFE 1611 lead soared to highs at first but then dropped to the 5-day moving average on Tuesday. The contract will move at RMB 15,450-15,650/mt on Wednesday.

In China’s domestic market, demand and supply are both sluggish. Suppliers hold firm prices while downstream battery producers have low interest in purchase and buy goods mainly under term contracts. Trading thus remains quite. Spot lead should trade at RMB 15,450-15,600/mt on Wednesday with fluctuating SHFE 1611 lead.

LME lead
SHFE lead
lead prices

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