SHANGHAI, Nov. 4 (SMM) – LME lead prices overnight opened at USD 2,020/mt and then fell to USD 1,973/mt. European central bank unexpectedly announced it will cut interest rates by 25 basis points, to 1.25%, while Greece will likely give up referendum of European bailout, boosting market confidence. LME lead prices rallied to close at USD 2,036/mt, up 1.58%. The result of G20 meeting is still the focus of markets, and US non-farm employment as well as whether or not Greek referendum will be canceled are still unclear, so LME lead prices should fluctuate between USD 1,980-2,040/mt today.
The US dollar index closed at 76.7.
SHFE lead prices should open lower and move between RMB 15,000-15,500/mt today, and domestic spot lead prices should be RMB 15,150-15,300/mt.