SHANGHAI, Jul. 9 (SMM) – Since market was pessimistic on US economic prospects due to the lower-than-expected June non-farm payrolls and since it was reported Greece might hold another election, market was depressed again, driving LME lead prices to fluctuate down and hit a low of USD 1,840/mt, with prices finally closing at USD 1,852/mt, down USD 31.8/mt or down 1.69%. Trading volumes were down 870 lots to 3,439 lots, and positions were up 229 lots. LME lead inventories fell 100 mt to 348,475 mt.
The US dollar index rose above 83 to close at 83.28, and COMEX silver for September delivery closed at USD 26.92/oz.
On Monday, SHFE lead prices are expected to be RMB 14,750-15,000/mt, while spot lead prices should be between RMB 14,900-15,050/mt.