SHANGHAI, Nov. 2 (SMM) – Attention should be on final reading of Eurozone’s manufacturing PMI in October and US’s ADP employment condition in October on Wednesday. LME lead is expected to range between USD 2,055-2,075/mt on Wednesday. SHFE 1612 lead dropped from highs on Tuesday and will move at RMB 16,500-16,700/mt on Wednesday.
In China’s domestic market, trading is sluggish with volatile SHFE 1612 lead. Downstream battery producers expect prices to drop and reduce purchase of spot transactions further. Spot lead should rise RMB 25/mt to RMB 16,300-16,500/mt on Wednesday.