SMM Morning Review - 2011/9/1 Lead Market

Sep 1, 2011 09:29

LME lead prices overnight maintained strong momentum despite a drop, with prices finding support at USD 2,520/mt and then rising to USD 2,575/mt.

SHANGHAI, Sept. 1 (SMM)--LME lead prices overnight maintained strong momentum despite a drop, with prices finding support at USD 2,520/mt and then rising to USD 2,575/mt, but then weighed down to USD 2,535/mt later the day. Pushed up by better-than-forecast US economic data, LME lead prices surged to USD 2,590/mt, and closed at USD 2,582/mt, up USD 47/mt, or up 1.85%.

The US dollar stood at the 74 mark and closed at 74.027.

Domestic spot lead prices should be between RMB 16,400-16,550/mt.

LME lead prices

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SMM Morning Review - 2011/9/1 Lead Market

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