SMM Morning Review - 2011/9/29 Lead Market

Sep 29, 2011 09:51

LME lead prices overnight moved between USD 1,975-2,025/mt, touching USD 2,034/mt.

SHANGHAI, Sept. 28 (SMM) -- LME lead prices overnight moved between USD 1,975-2,025/mt, touching USD 2,034/mt. But as EU, European Central Bank and IMF decided to return to Greece to inspect the implementation of the austerity plan, and since Germany gave hints that the new bailout plan needs further discussion, LME lead prices lost previous gains to close at USD 1,971/mt, down USD 57/mt. LME lead prices should struggle at USD 2,000/mt level today, with the market cautious ahead of the National Day holiday.

The US dollar index closed at 78.147. US stocks were down 1.5%.

Domestic spot lead prices should be around RMB 14,200/mt.

LME lead prices

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SMM Morning Review - 2011/9/29 Lead Market

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