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Home / Metal News / SMM Morning Review - 2011/8/8 Lead Market

SMM Morning Review - 2011/8/8 Lead Market

Aug 8, 2011 09:30

Dragged down by US stocks, LME lead prices dipped to USD 2,392/mt after opening. During European trading hours

SHANGHAI, Aug. 8 (SMM)--Dragged down by US stocks, LME lead prices dipped to USD 2,392/mt after opening. During European trading hours, the weakened US economy weighed down LME lead prices despite the better-than-forecast US non-farm employment data in July, with prices closing at USD 2,385/mt, down USD 82/mt, or down 3.34%. As Standard & Poor’s downgraded US credit rating, LME lead prices are expected to move between USD 2,280-2,380/mt today.

The US dollar index closed at 74.541, down 1.09%.

Domestic spot lead prices are expected to be RMB 15,850-16,000/mt today.

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LME lead prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM Morning Review - 2011/8/8 Lead Market

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