SMM Morning Review - 2011/10/12 Lead Market

Oct 12, 2011 09:47

LME lead prices overnight opened higher at USD 2,004/mt.

SHANGHAI, Oct. 12 (SMM) – LME lead prices overnight opened higher at USD 2,004/mt. Due to the pending vote by Slovakia to the expansion of EFSF, LME lead prices inched down to USD 1,946/mt, finding support at the 5-day moving average. At the end of trading, LME lead prices closed at USD 1,988/mt. As Slovakia voted down the expansion of EFSF after US stocks closed, LME lead prices should move between USD 1,930-2,000/mt today.
The US dollar index closed at 77.69.

SHFE lead prices should move between RMB 14,300-14,800/mt today, and domestic spot lead prices should be RMB 14,300-14,800/mt, close to SHFE 1111 lead contract prices.

LME lead prices

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SMM Morning Review - 2011/10/12 Lead Market

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