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SMM Morning Review - 2011/9/5 Lead Market
Sep 5,2011 09:21CST
price review forecast
Source:SMM
LME lead prices overnight inched down after opening, finding support at USD 2,500/mt level.

SHANGHAI, Sept. 5 (SMM) -- LME lead prices overnight inched down after opening, finding support at USD 2,500/mt level. The number of US non-farm employment in August was close to July’s level, with increases much lower than the expected 75,000, pushing down LME lead prices to USD 2,460/mt. Finally, LME lead prices rallied slightly but met resistance at the 60-day moving average, finally closing at USD 2,465/mt, down USD 73.75/mt, or down 2.9%. LME lead prices should fluctuate between USD 2,450-2,500/mt today.

The US dollar index edged up and closed at 74.7.

Domestic spot lead prices should be between RMB 16,000-16,200/mt.
 

LME lead prices

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