SHFE Lead to End with LossesAuthor:Site Source:Network Click to rate:1668 Post time:2016-12-20
Attention should be on Bank of Japan’s interest rate decision in December’s meeting on Tuesday. LME lead will range between USD 2,100-2,200/mt on Tuesday. SHFE 1702 lead dropped but was still above RMB 18,000/mt on Monday and will move at RMB 17,000-18,000/mt on Tuesday.
In China’s domestic market, traders rush to sell goods while downstream battery producers take a wait-and-see stance and purchase in a small amount. Spot lead should fall RMB 800/mt and trade at RMB 18,550-18,650/mt on Tuesday.