SHANGHAI, Jun. 28 (SMM) – LME lead prices opened at USD 1,768/mt overnight and fell later influenced by the rising US dollar index. Since the US May Durable Goods Orders jumped unexpectedly by 1.1% and since the US Pending Home Sales Index for May hit a two year high, shoring up market sentiment, LME lead prices regained previous losses and ended at USD 1,762/mt. Trading volumes were up 206 lots to 6,061 lots, while positions increased 1,505 lots to 132,000 lots. LME lead inventories rose 475 mt to 351,250 mt.
The US dollar index closed at 82.5, and COMEX silver for September delivery settled at USD 27.1/oz, down USD 0.397/oz, or 1.44%.
SHFE lead prices are expected to move between RMB 14,400-14,600/mt on Thursday, while spot lead prices should be RMB 14,550-14,650/mt with spot premiums of RMB 150/mt over SHFE lead prices.