SMM Morning Review - 2011/8/22 Lead Market

Aug 22, 2011 09:42

LME lead prices surged to USD 2,325/mt but then fell to USD 2,288/mt.

SHANGHAI, Aug. 22 (SMM)--Last Friday, LME lead prices surged to USD 2,325/mt but then fell to USD 2,288/mt. As the US dollar index fell to 73.6, LME lead prices rose to the 10-day moving average later the day, then lost previous gains tracking weakening US stocks, with prices closing at USD 2,308/mt, up USD 10/mt. LME lead prices should fluctuate between USD 2,280-2,350/mt today.

The US dollar index fell to 74 and closed at 73.972.

Domestic spot lead prices should be between RMB 16,050-16,250/mt, with discounts of negative RMB 350-400/mt against SHFE lead prices.

LME lead prices

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SMM Morning Review - 2011/8/22 Lead Market

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