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SMM Morning Review - 2011/11/3 Lead Market
Nov 3,2011 09:27CST
price review forecast
Source:SMM
LME lead prices overnight opened at USD 1,990/mt and then broke through USD 2,000/mt level.

SHANGHAI, Nov. 3 (SMM) -- LME lead prices overnight opened at USD 1,990/mt and then broke through USD 2,000/mt level. The better-than-forecast ADP employment and optimistic economic outlook by the US Federal Reserve boosted market sentiment, pushing up LME lead prices to USD 2,041/mt, with prices finally closing at USD2,004/mt. Market players are cautious ahead of the G20 meeting, so LME lead prices should fluctuate between USD 1,980-2,030/mt today.

The US dollar index closed at 77.5.

SHFE lead prices should open lower and move between RMB 14,900-15,450/mt today, and domestic spot lead prices should be RMB 15,000-15,400/mt.

 

LME lead prices

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