SMM Morning Review - 2011/9/2 Lead Market

Sep 2, 2011 09:08

LME lead prices overnight moved steadily after opening, and then tumbled to an intraday low USD 2,508/mt at noon due to the strengthening US dollar index.

SHANGHAI, Sept. 2 (SMM)--LME lead prices overnight moved steadily after opening, and then tumbled to an intraday low USD 2,508/mt at noon due to the strengthening US dollar index, finding support at the 5-day moving average. Due to the better-than-forecast US manufacturing data, LME lead prices gained back some losses to fluctuate around USD 2,353/mt, finally closing at USD 2,538/mt, down USD 43/mt. LME lead prices should struggle at the USD 2,500/mt mark today.

The US dollar index edged up and closed at 74.509.

Domestic spot lead prices should be between RMB 16,350-16,500/mt.

LME lead prices

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SMM Morning Review - 2011/9/2 Lead Market

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