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SMM Morning Review - 2011/9/6 Lead Market
Sep 6, 2011 09:21Domestic spot lead is expected to be traded between RMB 16,100-16,250/mt on Tuesday.
SHANGHAI, Sept. 6 (SMM) -- LME lead prices briefly climbed to USD 2,500/mt after opening lower at USD 2,460/mt, but later fell back gradually in response to strengthening US dollar index. During European and US trading hours, weak Euro-zone manufacturing PMI and no substantial solution to European debt crisis dragged down LME lead prices, and LME lead prices finally closed at USD 2,460/mt, with prices finding support at the 10-day moving average. SMM predicts LME lead prices will fluctuate between USD 2,400-2,450/mt today.
In neighboring markets, the US dollar index climbed after a high open, and finally closed at 74.95.
Domestic spot lead is expected to be traded between RMB 16,100-16,250/mt on Tuesday.
lead Pb
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