SHFE Lead to Set with Gains (2016-12-12)

SHANGHAI, Dec. 12 (SMM) – Attention should be on US dollar index on Monday. LME lead is expected to keep fluctuating at USD 2,290-2,330/mt on Monday. SHFE 1702 lead dropped and then rallied last Friday and will be sensitive to rise in a short term. The contract will range between RMB 20,500-21,000/mt on Monday.

In China’s domestic market, suppliers hold back sales with firm offers while downstream battery producers watch from sidelines and mainly purchase based on orders mainly under term contracts with limited spot transactions. Spot lead should trade at RMB 20,600-20,750/mt on Monday.