SHFE Lead to Keep Moving at Highs (2016-10-26)

Oct 26, 2016 09:50

LME lead will move at USD 2,040-2,060/mt on Wednesday and SHFE 1612 lead should fluctuate at RMB 16,100-16,300/mt.

SHANGHAI, Oct. 26 (SMM) – Attention should be on US’s new home sales in September on Wednesday, which is expected to be lower than August’s level. LME lead will move at USD 2,040-2,060/mt on Wednesday. SHFE 1612 lead fell slightly on Tuesday’s night trading after surging and will keep firm for the foreseeable future. SHFE 1612 lead should fluctuate at RMB 16,100-16,300/mt on Wednesday.

In China’s domestic market, upstream and downstream battery producers both take wait-and-see stance with limited offers form suppliers due to volatile SHFE 1612 lead. Trading thus was quiet in China’s domestic market. Spot lead should decline by RMB 100/mt to RMB 15,950-16,100/mt on Wednesday.

LME lead

SHFE lead

lead prices

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SHFE Lead to Keep Moving at Highs (2016-10-26)

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