SHFE Lead to Move Lower (2016-11-11)

SHANGHAI, Nov. 11 (SMM) – Attention should be on Michigan consumer sentiment index in November on Friday. LME lead will move at USD 2,130-2,150/mt on Friday. SHFE 1701 lead dropped from highs on Thursday’s night trading and will fluctuate between RMB 17,200-17,400/mt on Friday.

In China’s domestic market, suppliers held back sales with bullish outlook while downstream battery producers take a wait-and-see stance, resulting in sluggish trading. Spot lead should drop by RMB 50/mt to RMB 16,950-17,100/mt on Friday.