SHFE Lead to Strengthen (2016-10-27)

SHANGHAI, Oct. 27 (SMM) – Eyes should be on US’s initial jobless claim from the week ending October 22 on Thursday, which is expected to be lower than previous level, and this will help US dollar index up. LME lead will move at USD 2,050-2,070/mt on Thursday. SHFE 1612 lead rose slightly on Wednesday and is predicted to range between RMB 16,300-16,500/mt on Thursday.

In China’s domestic market, trading volumes declined sharply due to volatile SHFE 1612 lead. Upstream and Downstream producers take wait-and-see stance. Spot lead will rise by RMB 100/mt to RMB 16,150-16,300/mt on Thursday.