SHFE Lead to Move Lower (2017-1-12)

SHANGHAI, Jan. 12 (SMM) – Attention should be on US’s initial jobless claim from the week ending January 7. LME lead is expected to range between USD 2,100-2,200/mt on Thursday. SHFE 1702 lead dropped to around the 5-day moving average on Wednesday’s night trading and will move at RMB 18,000-19,000/mt on Thursday.

In China’s domestic market, spot lead should drop RMB 50/mt to RMB 18,400-18,500/mt on Thursday.