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SMM Morning Review - 2011/8/5 Lead Market
Aug 5, 2011 09:12LME lead prices overnight fluctuated between USD 2,515-2,550/mt after opening during European trading hours.
SHANGHAI, Aug. 5 (SMM) -- LME lead prices overnight fluctuated between USD 2,515-2,550/mt after opening during European trading hours. According to data, US retail sales in July jumped, and the number of jobless claims for last week was down, but failing to brace up market confidence. Market players all purchased risk adverse assets, pushing up the US dollar index to 75.452. As a result, LME lead prices plunged to USD 2,455/mt, with prices closing down at USD 2,467.5/mt, with a drop of USD 67.5/mt, or down 2.66%. LME lead prices are expected to move between USD 2,430-2,500/mt today.
The US dollar index climbed to 75.452, and closed at 75.366, up 1.92%.
SHFE lead prices should move between RMB 16,400-16,600/mt today.
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LME lead prices
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