SHFE Lead to Strengthen (2016-11-2)-Shanghai Metals Market

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SHFE Lead to Strengthen (2016-11-2)

Price Review & Forecast 09:49:02AM Nov 02, 2016 Source:SMM

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.

Key Words:  LME lead  SHFE lead  lead prices 

Price

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#1 Lead
Apr.25
16575.0
75.0
(0.45%)
#1 Lead - Guangdong
Apr.25
16575.0
100.0
(0.61%)
#1 Lead - Henan
Apr.25
16550.0
75.0
(0.46%)
#1 Lead -Tianjin
Apr.25
16575.0
75.0
(0.45%)
#2 Lead
Apr.25
16450.0
75.0
(0.46%)

SHFE Lead to Strengthen (2016-11-2)

Price Review & Forecast 09:49:02AM Nov 02, 2016 Source:SMM

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.

Key Words:  LME lead  SHFE lead  lead prices