SMM Lead Market Morning Review (2015-8-17)

SHANGHAI, Aug. 17 (SMM) – Market lacked major reports last Friday evening and LME base metals prices were mixed. LME lead finally ended up USD 15/mt or 0.86% at USD 1,752.5/mt. Trading volumes were down 587 to 2,309 lots while positions grew 86 to 128,667. LME lead stocks decreased 1,875 mt to 202,100 mt.

Major reports are still absent on Aug. 17 and this week will see another US Fed’s meeting. Market sentiment should stay cautious today. LME lead will range between USD 1,735-1,765/mt. SHFE 1510 lead may move between RMB 13,190-13,290/mt and spot lead may fall RMB 25/mt to RMB 13,250-13,400/mt.