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SMM Morning Review - 2011/8/30 Lead Market
Aug 30, 2011 09:49Source:SMM
Domestic spot lead is expected to be traded between RMB 16,300-16,450/mt on Tuesday, with discounts of negative RMB 400-500/mt against SHFE three-month lead contract prices.
SHANGHAI, Aug. 30 (SMM) -- The LME lead market was closed yesterday. Since the US dollar index fluctuates lower and European and US stock markets kept rising, SMM predicts LME lead prices will test USD 2,450/mt after the LME market resumes trading, with prices expected to move around the 30-day moving average.
In neighboring markets, the US dollar index weakened, and finally closed at 73.686.
Domestic spot lead is expected to be traded between RMB 16,300-16,450/mt on Tuesday, with discounts of negative RMB 400-500/mt against SHFE three-month lead contract prices.
lead Pb
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