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SMM Morning Review - 2011/8/2 Lead Market
Aug 2,2011 09:15CST
smm insight
Source:SMM
LME and domestic lead price forecast

SHANGHAI, Aug. 2 (SMM) – LME lead market overnight initially moved between USD 2,630-2,650/mt, but weakened to USD 2,560/mt during European trading hours, as the US dollar index rose to 74.3 after the US ISM manufacturing data for July fell to 50.9, the lowest since July 2009. Finally, LME lead prices closed at USD 2,570/mt after falling to USD 2,560/mt, down USD 52/mt or 1.99%. LME lead prices are expected to fluctuate at around USD 2,600/mt on Tuesday.

In neighboring markets, the US dollar index reached up to 74.527, and finally closed at 74.286.

SHFE lead prices are expected to move in the RMB 16,950-17,100/mt range on Tuesday.

 

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