SHANGHAI, Apr. 24 (SMM) – LME lead prices opened at USD 2,010/mt in Asian trading hours Tuesday and dipped to a low of USD 1,982/mt along with falling Chinese stocks as the HSBC China flash PMI for March was reported lower than expected and previous level. Later, PMI data for the US, Germany, and euro zone also turned out disappointing, but the US new home sales grew in March and US and European equities increased noticeably. As a result, LME lead prices rose to end at USD 2,008.3/mt. Traded volumes were down 61 lots to 4,865 lots, and positions were down 1,147 lots. LME lead inventories fell 1,025 mt to 258,825 mt.
SMM Lead Market Morning Review (2013-4-24)