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SHFE Lead to Stay Firm (2017-2-9)
Feb 9, 2017 09:51Source:SMM
ME lead will range at USD 2,360-2,410/mt on Thursday and SHFE 1703 lead will move at RMB 19,100-19,800/mt on Thursday.
SHANGHAI, Feb. 9 (SMM) – Eyes should be on US’s initial jobless claim from the week ending January 4 on Thursday. LME lead will range at USD 2,360-2,410/mt on Thursday. SHFE 1703 lead stabilized on Wednesday’s night trading and will move at RMB 19,100-19,800/mt on Thursday.
In China’s domestic market, downstream battery producers purchase mainly under long-term contract with wait-and-see stance. Spot lead should rise RMB 200/mt and trade at RMB 19,050-19,200/mt on Thursday.
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