SHANGHAI, Apr. 26 (SMM) – LME lead prices opened at USD 2,073/mt and maintained stable overnight. US durable goods orders for March posted the biggest drop in three years. The negative economic data promoted market expectations on QE3 measure by Fed. US dollar index was weighed down, driving LME lead prices up to close at USD 2,087.5/mt. Trading volumes were down 356 lots to 4,325 lots, and positions fell 127 lots to around 120,000 mt. LME lead inventories were down 650 mt to 366,725 mt.
The US dollar index closed at 79, while COMEX 3 month silver ended at USD 30.43/oz, down USD 0.39/oz or 1.27%.
On Thursday, SHFE lead prices should move between RMB 15,680-15,850/mt, and domestic spot prices should be between RMB 15,600-15,750/mt.