SHANGHAI, Jan. 26 (SMM) -- On January 25th, LME lead prices closed USD 20.5/mt down to USD 2,215/mt. During the Asian trading hours on January 25th, LME lead prices rallied with rising prices in Asia, but much market attention in the later trading time was paid to the question whether Ben Bernanke will continue to serve as the chairman of the US Federal Reserve. Rising crude oil prices helped narrow lead price declines. However, LME lead inventories continued to grow, with stocks on January 25th up 225 mt to 153,700 mt, and with no signs of falling, leaving a pessimistic outlook for lead prices.
SMM predicts LME lead prices are expected to be USD 2,100-2,260/mt on Tuesday.
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