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SMM Morning Review - 2011/8/25 Lead Market
Aug 25,2011 09:37
CSTprice review forecast
Source:SMM
LME lead prices overnight opened higher at USD 2,355/mt, but fell slightly during the day.
SHANGHAI, Aug. 25 (SMM)--LME lead prices overnight opened higher at USD 2,355/mt, but fell slightly during the day, to as low as USD 2,325/mt and found support at the 10-day moving average. Orders for US durable goods in July were better than forecast, pushing up LME lead prices to cut previous losses, with prices closing at USD 2,351/mt. LME lead prices should move between USD 2,320-2,370/mt today.
The US dollar fluctuated widely and closed at 74.063.
Domestic spot lead prices should be between RMB 16,200-16,300/mt.
LME lead prices
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