SHANGHAI, May. 3 (SMM) – LME lead prices remained stable after opening at USD 2,167/mt overnight. Later, euro zone PMI for April slipped further to a three-year low, while data showed unemployment in the euro zone rose in March, compounding concerns over the economic recession in euro zone and depressing market sentiment. Hence, LME lead prices fell to surrender earlier gains and finally ended down USD 37.8/mt, or 1.74%, to USD 2,130/mt. Trading volumes were up 1,072 lots to 5,201 lots, and positions increased by 2,368 lots to around 118,000 mt. LME lead inventories were up 1,500 mt to 361,000 mt.
The US dollar index closed at 79.19, while COMEX 3 month silver ended at USD 30.64/oz, down USD 0.36/oz, or 1.16%.
On Thursday, SHFE lead prices may move between RMB 15,700-15,850 /mt, and domestic spot prices should be between RMB 15,650-15,800 /mt.