SHANGHAI, Mar. 23 (SMM) – LME lead prices overnight opened lower at USD 2,043/mt due to the weakening demand reflected by the worse-than-expected China and euro zone Manufacturing PMI. Later, prices fell below USD 2,000/mt to USD 1,980/mt, and finally closed at USD 1,995.8/mt, down USD 40.8/mt or 2%.
The US dollar index closed at 79.6, and COMEX 5 month silver closed at USD 31.64/oz, down USD 0.587/oz or 1.8%.
On Friday, SHFE lead prices should open lower to move between RMB 15,450-15,700/mt. Domestic spot prices are expected to be RMB 15,550-15,700/mt.