SHANGHAI, Dec. 19 (SMM) – Attention should be on US Federal Reserve’s speech for labor market on Monday. LME lead will move at USD 2,200-2,280/mt on Monday. SHFE 1702 lead opened lower and dropped below RMB 20,000/mt last Friday. The contract will test support at RMB 19,000/mt on Monday and is expected to move between RMB 19,000-19,500/mt on Monday.
In China’s domestic market, spot premiums kept narrowing and market players watched from sidelines. Downstream battery producers purchased in a small amount. Spot lead should fall RMB 600/mt to RMB 19,750-19,850/mt on Monday.