SHANGHAI, Oct. 29 (SMM) – LME lead prices opened at USD 2,012/mt during Asian trading hours last Friday and hit an intraday low of USD 1,979/mt due to the declines in A-shares and Nikkei Stock Average. During European trading hours, 3Q GDP for the US was 2%, higher than 1.3% for the previous quarter. As such, the US dollar index fell noticeably while LME lead prices regained earlier losses and rose to USD 2,026/mt to finally closed at USD 2,023.3/mt, up USD 12.5/mt. Trading volumes were down 134 lots to 5,562 lots, and positions were up 219 lots to 135,314 lots. Market will focus on the US non-farm payrolls this week.
The US dollar index closed at 80.05, and COMEX silver for December delivery closed at USD 32.04/oz.
On Monday, SHFE lead prices should move between RMB 15,150-15,400/mt with spot lead prices in China expected to remain stable at RMB 15,000-15,200/mt.