SHANGHAI, Dec. 26 (SMM) – LME lead prices opened at USD 1,991/mt on Friday, and later rose slightly to move between USD 2,000-2,020/mt as the US dollar index fluctuated down. Since US durable goods orders for November and new home sales were both better than expectations and previous data, LME lead prices touched the USD 2,032/mt high during the European trading market, but met resistance at the 30-day moving average. Finally, LME lead market closed at USD 2,025/mt, up 1.25%. Major European and US exchange markets are closed today for the Christmas holiday.
The US dollar index dipped low but rallied and closed at 79.99, and COMEX silver closed at USD 29.1/oz.
SHFE lead prices should move between RMB 15,200-15,420/mt on Monday without the direction from LME lead market. In domestic spot markets, transactions will remain quiet and spot prices should be RMB 15,200-15,350/mt. Buyers will still purchase on an as-needed basis.