SHANGHAI, Sept. 9 (SMM) – Eyes should be on China’s CPI and PPI and movement of crude oil on Friday. LME lead is predicted to move at USD 1,910-1,930/mt on Friday. SHFE 1610 lead dropped at first but then increased on Thursday. The contract will range between RMB 14,050-14,250/mt on Friday.
In China’s domestic market, traders offer prices actively while downstream battery producers take a wait-and-see stance and purchase only in a small amount. Thus, trading should remain sluggish. Spot lead should be traded at RMB 14,100-14,250/mt on Friday with fluctuating SHFE 1610 lead.