SHANGHAI, Nov. 23 (SMM) – Eyes should be on fresh reading of US durable goods orders in October on Wednesday and US initial jobless claims from the week ending November 19, which is expected to be higher than previous level. US dollar index will keep rising while Chinese yuan will remain downward track. LME lead is predicted to move between USD 2,195-2,215/mt on Wednesday and SHFE 1701 lead will move at RMB 18,800-19,010/mt.
In China’s domestic market, spot suppliers hold offers firmly while downstream battery producers, who fear prices to fall, purchase in a small amount, resulting in quiet trading. Spot lead should rise RMB 250/mt to RMB 18,700-18,800/mt on Wednesday.