SHANGHAI, Feb. 6 (SMM) – As January service PMI data for the eurozone, Germany, and France were reported above expectations and previous figures, driving up the Euro and lifting investor confidence for global recovery. As such, LME lead prices presented a strong trend after opening at USD 2,246/mt Tuesday and rose to USD 2,468/mt influenced by the increase in European and US equities. Prices finally closed at USD 2,462/mt, up USD 10.5/mt. Trading volumes were up 134 lots to 3,775 lots, and positions fell 1,890 lots to around 135,000 lots. LME lead inventories were down 50 mt to 290,075 mt.
The US dollar index ended at 79.52, and COMEX silver for March delivery closed at USD 31.78/oz, up USD 0.33/oz.
On February 6, the SHFE 1304 lead contract price should move between RMB 15,450-15,530/mt, with spot lead prices in China expected at RMB 14,850-15,000/mt.