SHANGHAI, Apr. 6 (SMM) – LME lead prices overnight opened at USD 2,000/mt. Later, as US jobless claims were reported down to a new low since April 2008, and better than expected, LME lead prices were boosted to rise and regained losses on the previous trading day, but met resistance at the 20-day moving average. LME lead prices concluded the day up USD 64.3/mt to USD 2,057/mt, a growth of 3.2%. Transactions were up 763 lots to 5,626 lots, and positions were up 951 lots to 126,000 lots. LME lead inventories increased by 275 mt to 374,575 mt.
The US dollar index closed at 80.05, and COMEX 5 month silver closed at USD 31.73/oz, up USD 0.73/oz or 2.35%.
On Friday, SHFE lead prices should tend to stabilize and move between RMB 15,450-15,650/mt, while domestic spot prices should be between RMB 15,550-15,700/mt.