SHANGHAI, Aug. 19 (SMM) – LME lead market overnight fluctuated at above USD 2,100/mt, and finally closed at USD 2,140/mt, standing above the daily moving average. An upward momentum is technically possible, while trading volumes and positions in the overnight market indicate that LME lead market is waiting for direction from other base metals market.
In neighboring markets, the US dollar index closed at 82.478, a sign that the euro remained weak against the US dollar. Gold futures for December delivery closed up USD 3.10 to end at USD 1,231.40 per ounce. Silver futures for September delivery finished 19.6 cents lower at USD 18.399 per ounce.
Domestic lead market is expected to trade in the RMB 16,200-16,300/mt range on Thursday.
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