SHANGHAI, Jul. 20 (SMM) – On Tuesday, LME lead prices rose to USD 2,773/mt after opening at around the 5-day moving average. Later, the better-than-expected US economic data and expectation of the bailout plan for Greece pushed up the Euro, weighing down the US dollar index. In response, LME lead prices rose to USD 2,779/mt, but met strong resistance at USD 2,800/mt, finally closing at USD 2,764.5/mt, up USD 33.5/mt or 1.23%. SMM expects LME lead prices may fluctuated between USD 2,730-2,790/mt on Wednesday.
In neighboring markets, the US dollar index finally settled at 75.101.
SMM expects domestic lead spot prices to be between RMB 17,000-17,300/mt on Wednesday.
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