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SHFE Lead to See Range-Bound Trading (2016-12-21)
Dec 21, 2016 10:09Source:SMM
LME lead is expected to move at USD 2,150-2,250/mt on Wednesday and SHFE 1702 lead will range between RMB 18,000-19,000/mt.
SHANGHAI, Dec. 21 (SMM) – Attention should be on US’s existing home sales in November on an annual basis on Wednesday. LME lead is expected to move at USD 2,150-2,250/mt on Wednesday. SHFE 1702 lead found support at RMB 18,000/mt and rallied slightly on Tuesday’s night trading and will range between RMB 18,000-19,000/mt Wednesday.
In China’s domestic market, traders sell goods actively. Downstream battery producers will increase purchases as SHFE 1702 lead stopped falling. Spot lead should trade at RMB 18,550-18,650/mt on Wednesday.
SHFE lead
LME lead
lead prices
For queries, please contact Michael Jiang at michaeljiang@smm.cn
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