LME Lead to See Limited Upward Room(2016-4-6)

SHANGHAI, Apr. 6 (SMM) – LME lead will be lacking in rising strength and move between USD 1,690-1,720/mt during Asian trading hours Wednesday.

Attention is turning to PMI data for retail sale industry from euro zone and US crude oil inventories. SHFE 1605 lead should edge down to RMB 13,130-13,285/mt on Apr. 6. Overall supply is sufficient in China’s spot market while poor downstream demand will not support lead prices. Spot lead will thus quote at RMB 13,350-13,450/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-4-6)