SHANGHAI, Oct. 11 (SMM) – LME lead prices overnight moved steadily between USD 1,950-1,980/mt. Boosted by news that Germany and France will help resolve European debt crisis and restructure capital of the banking sector, the US dollar index plummeted, driving up LME lead prices to USD 2,006/mt, with prices finally closing at USD 1,996.5/mt, up USD 59.5/mt, or up 3%. LME lead prices should fluctuate around USD 2,000/mt level today.
The US dollar index closed at 77.65, down 1.4%.
SHFE lead prices should move between RMB 14,600-15,000/mt today, and domestic spot lead prices should be RMB 0-50/mt lower or RMB 0-50 higher than SHFE 1111 lead contract prices, moving between RMB 14,700-15,000/mt.