SHANGHAI, Aug. 5 (SMM) – LME lead broke out above the 5 and 10-day moving averages on Tuesday night and ended at USD 1,736/mt, growing USD 35.5/mt or 2.09%. Trading volumes fell 734 to 3,902 lots while positions were up 393 to 129,221. LME lead stocks fell 2,300 mt to 216,475 mt.
Markets expect LME lead to be range-bound between SUD 1,720-1,740/mt today. SHFE 1510 lead should move between RMB 12,900-13,000/mt and RMB 13,200-13,300/mt for spot lead.