SHANGHAI, Jul. 26 (SMM) – LME lead prices were started at USD 2,063/mt on Thursday. Although the UK Q2 GDP growth was reported above expectation at 1.4%, LME lead prices remained under resistance at USD 2,075/mt and mainly moved at USD 2,050-2,070/mt in Asian trading hours. Later, the US durable goods orders were reported up 4.2% in June, well above the 1.4% expected, but last week’s initial jobless claims were slightly worse than the 340,000 expected at 343,000. The mixed data increased volatility in lead prices. At the tail of trading, as Jon Hilsenrath wrote that Fed will probably keep its bond-buying program unchanged, non-US currencies staged a strong rally, and LME lead prices rose again and finally ended at USD 2,074.8/mt. Trading volumes were down 31 lots to 3,089 lots, while positions fell 1,825 lots to some 111,000 lots.
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