SHANGHAI, Oct. 16 (SMM) – LME lead prices opened at USD 2,125/mt during Asian trading hours and rose to USD 2,150/mt. China’s PPI for September data was -3.6%, a 35-month low, fueling market concerns over China’s economic slowdown, combined with the falling A-shares, LME lead prices fell to USD 2,130/mt as a result. During European trading hours, LME lead went down to USD 2,103.3/mt due to increasing selling pressures. The US September sales retails and Citigroup 3Q earnings both beat forecasts, and the US equities rose generally, LME lead prices showed a sign of increase and finally close at USD 2,117/mt, down USD 23/mt or 1.07%. Trading volumes were down 2,793 lots to 6,500 lots, and positions were up 199 lots to 142,305 lots, with inventories rising more slowly to 301,700 lots.
The US dollar index closed at 79.67, and COMEX silver for December delivery ended at USD 32.74/oz, down over 3%.
On October 16, SHFE 1212 lead contract prices are expected to move between RMB 15,600-15,800/mt, and spot lead prices should be RMB 15,400-15,550/mt.