SHFE Lead to Remain Range-Bound Trading (2016-10-24)

Published: Oct 24, 2016 09:39 (GMT+8)

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LME lead is expected to move at USD 1,990-2,010/mt on Monday and SHFE 1612 lead should range between RMB 15,600-15,800/mt.

SHANGHAI, Oct. 24 (SMM) – Attention should be on Eurozone’s manufacturing index on Monday and US St. Louis Fed President James Bullard’s speech on US’s economy and monetary policy. LME lead is expected to move at USD 1,990-2,010/mt on Monday. SHFE 1612 lead dropped from highs on last Friday and is predicted to keep firm for the short term. The contract should range between RMB 15,600-15,800/mt on Monday.
In China’s domestic market, suppliers leave firm prices unchanged while downstream buyers purchase more low-grade lead, who expect prices to fall. Spot lead should trade at RMB 15,600-15,750/mt on Monday.

LME lead SHFE lead lead prices

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