SHANGHAI, Jul. 16 (SMM) – LME lead prices overnight opened at USD 1,860/mt. Market confidence was boosted by expectations on China’s introduction of stimulus plan influenced by 2Q GDP growth and the above-expected earning reported by JPMorgan Chase. In response, US equities climbed, and LME lead prices touched USD 1,893/mt and closed at USD 1,880/mt.
The US dollar index closed at 83.29, and COMEX silver for September delivery closed at USD 27.25/oz.
SHFE lead prices are expected to move between RMB 14,850-15,050/mt, and spot lead prices should be RMB 14,950-15,100/mt.