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SHFE Lead to Find Support (2016-12-16)
Dec 16, 2016 09:40Source:SMM
LME lead is predicted to move between USD 2,300-2,350/mt on Friday and SHFE 1702 lead will range at RMB 20,000-20,500/mt.
SHANGHAI, Dec. 16 (SMM) – Attention should be on US’s housing started in November on Friday. LME lead is predicted to move between USD 2,300-2,350/mt on Friday. SHFE 1702 lead fell on Thursday and will range at RMB 20,000-20,500/mt on Friday with support at RMB 20,000/mt.
In China’s domestic market, spot premiums keep narrowing with market players taking a wait-and-see stance. Downstream battery producers increase purchases. Spot lead should drop RMB 200/mt to RMB 20,450-20,600/mt on Friday.
SHFE lead
LME lead
lead prices
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