SHANGHAI, June 28 (SMM) – Short covering at the weekend helped LME lead prices close up at USD 1,845/mt. At present, market concerns that debt crisis in Europe will hamper the global economic recovery are easing up gradually, and are waiting for further direction from G-20 summit.
In the neighboring markets, the US dollar weakened against the euro, caused by the weaker-than-expected GDP growth in 1Q from the US, and lowered expectations of higher interest rate from the Fed’s interest rate decision. As a result, the US dollar index closed at 85.312. Gold futures for August delivery ended up USD 10.30 at USD 1256.20 per ounce. Silver futures for July delivery finished 37.4 cents higher at USD 19.110 per ounce.
Domestic lead market is expected to trade in the RMB 14,800-15,000/mt range on Monday.
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