SHANGHAI, Apr. 16 (SMM) – LME lead prices opened at USD 2,085/mt last Friday and followed a weak track due to the worse-than-expected China’s 1Q GDP data. Since Spanish bond yields touched as high as 6% again overnight, LME lead prices continued to fall and ended the day down USD 22.8/mt to USD 2,065/mt, showing a decrease of 1.09%. Trading volumes dropped by 1,343 lots to 5,723 lots and positions were down 192 lots to 125,000 lots. LME lead inventories were down 950 mt to 372,600 mt.
The US dollar index closed at 79.87, and COMEX 5 month silver closed at USD 31.39/oz, down USD 0.91/oz or 2.82%.
On Monday, SHFE lead prices are expected to move between RMB 15,550-15,750/mt, while domestic spot prices may be in the RMB 15,550-15,700/mt range.