SHANGHAI, Dec. 23 (SMM) – On Wednesday, LME lead fell by USD 19.3/mt to close at USD 2,445.5/mt, due to investors’ profit-takings before the Christmas Holiday, and due to pressures from the moderate 3Q GDP in the US. At present, LME lead prices are moving around the 5-day moving average, and SMM expects LME lead prices may fluctuate upward around USD 2,430/mt in the near term.
In neighboring markets, the US dollar index fell to finally settle at 80.573. Gold futures for February delivery closed USD 1.40 lower at 1,387.40 per ounce; silver futures for March delivery fluctuated between USD 29.23-29.485 per ounce, finally closing 0.90 cents lower at USD 29.385 per ounce.
SMM expects transactions in China’s lead spot markets to be made in the 17,000-17,100/mt range on Thursday.
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