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Home / Metal News / SMM Morning Review - 2012/3/23 Lead Market

SMM Morning Review - 2012/3/23 Lead Market

Mar 23, 2012 09:06

Source:SMM

LME lead prices overnight opened lower at USD 2,043/mt.

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.

LME lead

lead price

US dollar

COMEX silver

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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