SHANGHAI, Apr. 17 (SMM) – The US CPI and housing permits in March, as well as Germany and euro zone economic climate index were all reported worse than expected, with only housing starts above expectation. The euro, however, rebounded to rose above the 60-day moving average, and the US dollar fell below 82. In response, LME lead prices opened at USD 2,034/mt and closed USD 37.8/mt or 1.82% higher at USD 2,078.8/mt. Trading volumes were down 2,723 lots to 4,510 lots. Positions were up 344 lots. LME lead inventories increased 650 mt to 259,675 mt.
The US dollar index ended at 81.8, and COMEX silver for May delivery stabilized to close at USD 23.63/oz, up USD 0.963/oz or 4.25%.
On April 17, the SHFE 1306 lead contract price is expected move around RMB 14,000-14,200/mt, while spot lead prices may be RMB 14,000-14,100/mt.