SMM Morning Review – 2011/8/9 Lead Market

Aug 9, 2011 09:07

LME lead prices dived due to market panic sentiment.

SHANGHAI, Aug. 9 (SMM) – LME lead market overnight moved between USD 2,300-2,350/mt after opening, but dived to USD 2,215/mt during the European and US trading hours due to market panic sentiment resulting from the tumbling US equities from the credit downgrading. Finally, LME lead prices closed at USD 2,230/mt, down USD 155/mt or 6.5%. LME lead prices are expected to fluctuate in the USD 2,150-2,250/mt range on Tuesday.

In neighboring markets, the US dollar moved higher to finish at 74.842.

Domestic spot lead market is expected to trade between RMB 15,600-15,850/mt on Tuesday.

LME lead prices

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SMM Morning Review – 2011/8/9 Lead Market

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