SHANGHAI, Mar.8 (SMM) – On Monday, crude oil prices rose due to exacerbated tensions in Libya, meanwhile, Moody’s revised down Greece’s rate from BA1 to B1. Dragged by the geopolitics unrest, investors sold out base metals for rise aversion, leaving LME lead prices to fall by USD 74/mt and close at USD 2,580/mt. SMM expects recent negative factors may weigh down LME lead prices at around RMB 2,560/mt in the short term.
In neighboring markets, the US dollar index settled at 76.511, up 0.102, due to growing rise-aversion sentiment from economic concerns.
SMM expects transactions in domestic lead markets to be made between RMB 17,400-17,550/mt on Tuesday.
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