SHANGHAI, Dec. 15 (SMM) – LME lead prices overnight opened at USD 2,085/mt and fluctuated weakly. During European trading session, the EU announced eurozone’s October industrial production dropped MoM with output lower than expected, coupled with the rumor on downgrade of French ratings, adding to worries about European debt crisis. Risk aversion sentiment pushing the US dollar index up, and LME lead prices moved down and closed at USD 1,993.5/mt, down USD 87/mt, or 4.16%. LME lead prices should move between USD 2,000-2,050/mt today.
The US dollar index moved up and touched 80.73, a new yearly high, and closed at 80.53, and COMEX silver closed at USD 28.94/oz, down USD 2.33/oz, a decrease of 7.44%.
SHFE lead prices may gap lower and move between RMB 14,800-15,300/mt on Thursday, and domestic spot prices should be RMB 14,800-15,100/mt with continuous downtrend.