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SMM Morning Review - 2011/8/8 Lead Market
Aug 8,2011 09:30CST
price review forecast
Source:SMM
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

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