SMM Morning Review - 2011/10/17 Lead Market

Oct 17, 2011 09:52

After LME lead prices opened at USD 2,029/mt last Friday, Standard & Poor's downgraded Spain's credit rating, depressing market sentiment.

SHANGHAI, Oct. 17 (SMM) – After LME lead prices opened at USD 2,029/mt last Friday, Standard & Poor's downgraded Spain's credit rating, depressing market sentiment. But finance ministers of G20 proposed to raise loans to the Euro zone, while US retail sales for September were better than forecasts. In this context, LME lead prices closed at USD 2,023/mt. LME lead prices should move between USD 2,000-2,050/mt today.

The US dollar index closed at 76.6.

SHFE lead prices should move between RMB 14,850-15,350/mt today, and domestic spot lead prices should be RMB 14,850-15,200/mt.

LME lead prices

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SMM Morning Review - 2011/10/17 Lead Market

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