Rebounding US Dollar Index Weighed on Lead Prices

SHANGHAI, Apr 3 (SMM) - Last Friday, LME lead opened at $2,135/mt and fluctuated at $2,130-3,140/mt, but LME lead plummeted to $2,102.5/mt and fell 1.45% to close at $2,106.5/mt as the US dollar index rebounded.

The most-traded SHFE 2305 lead contract opened at 15,265 yuan/mt. Even with the declining inventory, SHFE lead prices fell to 15,200 yuan/mt affected by the decline of LME lead, but then rebounded and closed at 15,235 yuan/mt, a decrease of 0.39%, as the long-short game intensified. The open interest reached 53,241 lots, a decrease of 323 lots from the previous trading day.