SMM Lead Market Morning Review (2013-10-9)

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.