SHANGHAI, Mar. 25 (SMM) – SHFE 1605 lead will narrowly range between RMB 13,450-13,600/mt on Mar. 25 with resistance at moving averages and support at the 40-day moving average.
LME market is closed today for Good Friday holiday. Markets expect US Q4 GDP and personal consumption data to be flat with previous levels. More lead producers reopened in March, growing supply, while downstream demand is tepid. Spot lead will quote at RMB 13,550-13,650/mt today.
Key Macroeconomic Indicators for Base Metal Prices (2016-3-25)