SHANGHAI, Dec. 22 (SMM) – On Tuesday, the US dollar index hit as high as 80.8. However, LME lead prices ended USD 20.3/mt higher at USD 2,464.8/mt with a high opening following LME copper prices’ fresh record high, indicating strong support at around USD 2,430/mt. At present, LME lead prices are staying far above all moving averages, and SMM expects LME lead prices may fluctuate between USD 2,430-2,470/mt in the near term.
In neighboring markets, gold futures for February delivery closed USD 2.70 higher at 1,388.80 per ounce.
SMM expects transactions in China’s lead spot markets to be made in the 17,000-17,100/mt range on Wednesday.
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