SHANGHAI, Nov. 27 (SMM) -- The news that Dubai World was in huge debt depressed global stock markets and raised market demand for risk-avoidance of US dollar on Thursday, which dampened metal prices as a result. LME lead prices dropped slightly, with a sign of strong support at USD 2,320/mt.
The Dubai World announced to delay debt payments, raising market concerns in neighboring markets, and the US dollar advanced against euro and other major currencies, with lukewarm trading sentiment.
SMM predicts domestic lead prices will trade around RMB 16,000/mt.
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