SHANGHAI, Mar. 22 (SMM) – LME lead prices overnight opened at USD 2,029/mt and market sentiment was dampened due to the slowdown of Chinese economy, with prices presenting a cautious trends. Despite lower-than-expected February US Existing Home Sales and the speech of Ben Bernanke, the Chairman of Federal Reserve, LME lead prices were not negatively affected, and continued to fluctuate between USD 2,020-2,040/mt, and finally closed at USD 2036.5/mt, up USD 9/mt.
The US dollar index closed at 79.55 and COMEX 5 month silver closed at USD 32.23/oz, up USD 0.39/oz or 1.23%.
On Thursday, SHFE lead prices should move between RMB 15,700-15,900/mt, and domestic spot prices should be RMB 15,700-15,800/mt.