SHFE Lead to Move Lower (2016-12-19)-Shanghai Metals Market

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SHFE Lead to Move Lower (2016-12-19)

Price Review & Forecast 10:15:37AM Dec 19, 2016 Source:SMM

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.

Key Words:  SHFE lead  LME lead  lead prices 

SHFE Lead to Move Lower (2016-12-19)

Price Review & Forecast 10:15:37AM Dec 19, 2016 Source:SMM

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.

Key Words:  SHFE lead  LME lead  lead prices