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SMM Morning Review - 2011/8/3 Lead Market
Aug 3,2011 09:17CST
smm insight
Source:SMM
LME lead prices overnight surged to USD 2,590/mt after opening then fell soon to fluctuate between USD 2,555-2,575/mt.

SHANGHAI, Aug. 3 (SMM) -- LME lead prices overnight surged to USD 2,590/mt after opening then fell soon to fluctuate between USD 2,555-2,575/mt. During European trading hours, US auto sales rose in July, pushing up LME lead prices to USD 2,582/mt. But as the US dollar index rebounded after the US Congress pass the debt ceiling deal, LME lead prices plummeted further to USD 2,545/mt, with prices closing at USD 2,568/mt. LME lead prices are expected to move between USD 2,530-2,600/mt today.

The US dollar index surged to 74.734, closing at 74.578.

SHFE lead prices should move between RMB 16,750-16,900/mt today.

 

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