SHANGHAI, Mar. 11 (SMM) – LME lead prices opened at USD 2,211/mt on Friday. The US unemployment rate fell from 7.9% to 7.7%, while nonfarm-payrolls increased 236,000, further strengthening investors’ expectations for earlier termination of easing policies. The US dollar touched as high as 82.9, weighing on base metals. LME lead prices thus fell to close at USD 2,210/mt. Trading volumes fell 3,351 lots to 3,887 lots, and positions were down 2,406 lots. LME lead inventories fell 2,475 mt.
The US dollar index closed at 82.7, while COMEX silver for May delivery ended at USD 28.92/oz.
On March 11, SHFE 1305 lead contract price will likely move between RMB 14,800-14,900/mt, with spot lead prices in China expected at RMB 14,550-14,650/mt.