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SMM Morning Review - 2011/9/20 Lead Market
Sep 20, 2011 09:42Source:SMM
Domestic spot lead is expected to be traded between RMB 15,700-15,850/mt on Tuesday.
SHANGHAI, Sept. 20 (SMM) -- LME lead prices moved below the 5-day moving average after opening lower, and a stronger US dollar dragged down LME lead prices below USD 2,300/mt, with prices even hitting a low of USD 2,295/mt. LME lead prices were stable between USD 2,300-2,330/mt during European and US trading hours, and finally closed at USD 2,303/mt, down USD 54/mt or 2.27%. SMM predicts LME lead prices may test the USD 2,300/mt mark today.
In neighboring markets, the US dollar index fluctuated at high levels, and finally closed at 77.358.
Domestic spot lead is expected to be traded between RMB 15,700-15,850/mt on Tuesday.
lead Pb
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