SMM Morning Review - 2011/11/21 Lead Market

SHANGHAI, Nov. 21 (SMM) – Last Friday, LME lead prices opened at USD 1,981/mt and moved weakly between USD 1,990-2,010/mt during Asian trading session. During European trading session, LME lead prices were boosted by the positive report that Euro-zone would get more support from IMF as European Central Bank (ECB) might give loans to IMF and the rallies of non-US currencies, with prices closed at USD 2,060/mt, up USD 75/mt, or 3.78%. Although non-US currencies stopped falling, the outlook should not be optimistic with the unresolved European debt issues and unclear economic prospects. LME lead prices may move between USD 2,000-2,060/mt.

US dollar index dipped low but rebounded and closed at 78.031.

On Monday, SHFE lead prices should move between RMB 15,100-15,600/mt, and domestic spot prices should be RMB 15,250-15,500.