SHFE Lead to See Range-Bound Trading (2016-11-17)-Shanghai Metals Market

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SHFE Lead to See Range-Bound Trading (2016-11-17)

Price Review & Forecast 09:51:17AM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – Eyes should be on US’s figures on Thursday, including CPI in October, final reading of core CPI on an annual basis, housing starts and building permits in October, which is expected to be higher than September’s level. US dollar index is expected to keep rising, weighing down base metals. LME lead will move at USD 2,160-2,180/mt on Thursday and SHFE 1701 lead is predicted to fluctuate between RMB 17,880-18,080/mt.

In China’s domestic market, spot lead supply remains tight and downstream buyers are wary on purchases. Trading will improve on Thursday and spot lead should drop by RMB 100/mt to RMB 17,900-18,000/mt.

Key Words:  SHFE lead  LME lead  lead prices 

Price

more
#1 Lead
Apr.22
16600.0
50.0
(0.30%)
T/C for domestic lead concentrate
Apr.01
1850.0
0.0
(0.00%)
T/C for imported lead concentrate
Apr.01
27.5
0.0
(0.00%)
#2 Lead
Apr.22
16525.0
25.0
(0.15%)
Secondary Lead
Apr.22
16125.0
25.0
(0.16%)

SHFE Lead to See Range-Bound Trading (2016-11-17)

Price Review & Forecast 09:51:17AM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – Eyes should be on US’s figures on Thursday, including CPI in October, final reading of core CPI on an annual basis, housing starts and building permits in October, which is expected to be higher than September’s level. US dollar index is expected to keep rising, weighing down base metals. LME lead will move at USD 2,160-2,180/mt on Thursday and SHFE 1701 lead is predicted to fluctuate between RMB 17,880-18,080/mt.

In China’s domestic market, spot lead supply remains tight and downstream buyers are wary on purchases. Trading will improve on Thursday and spot lead should drop by RMB 100/mt to RMB 17,900-18,000/mt.

Key Words:  SHFE lead  LME lead  lead prices