SHANGHAI, Oct. 9 (SMM) – LME lead prices overnight basically trended up and surged to USD 2,080/mt after opening at USD 2,063.3/mt in Asian trading session due to active investors on the market after the Chinese National Day holiday and the weakening US dollar. The prices climbed above USD 2,100/mt in European and US trading hours but later fell under the 120-day moving average, dragged down by the weakness of three major US stock indexes. LME lead prices finally closed at USD 2,092.8/mt with a gain of USD 30.3/mt. Trade volume increased 1,270 lots to 3,638 lots, while positions fell 490 lots to 123,198 lots. LME lead stocks shed 500 mt to 236,800 mt.
SMM Lead Market Morning Review (2013-10-9)