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SHFE Lead to See Range-Bound Trading (2016-11-17)
Nov 17, 2016 09:51Source:SMM
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.
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.
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