SMM Morning Review - 2011/9/7 Lead Market

Sep 7, 2011 09:43

LME lead prices overnight failed to touch USD 2,450/mt after opening, and then plummeted to USD 2,402/mt, finding support at USD 2,400/mt.

SHANGHAI, Sept. 7 (SMM)--LME lead prices overnight failed to touch USD 2,450/mt after opening, and then plummeted to USD 2,402/mt, finding support at USD 2,400/mt. As investors all switched to risk adverse assets on concerns over European debt crisis, the US dollar index surged to 76, pushing down LME lead prices to close at USD 2,404/mt, down USD 21/mt. LME lead prices should fluctuate between USD 2,380-2,430/mt today.

The US dollar index touched 76 and closed at 75.87.

Domestic spot lead prices should be between RMB 16,050-16,150/mt.

LME lead prices

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SMM Morning Review - 2011/9/7 Lead Market

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