SHANGHAI, Aug. 10 (SMM) – LME lead opened lower at USD 1,701/mt during last Friday evening session and depressed to a low of USD 1,868/mt by concerns over US non-farm payrolls number. Then the released US non-farm payrolls number increased 215,000, below previous 223,000, pushing dollar down. LME lead grew to USD 1,730/mt before ending at USD 1,720.5/mt, rising USD 15/mt. Trading volumes upped 1,063 to 4,552 lots while positions decreased 274 to 126,003. LME lead stocks dropped 2,725 mt to 210,075 mt.
SHFE 1510 lead started at RMB 12,765/mt for night trading Friday and touched a low of RMB 12,725/mt. Later, the price soared to RMB 12,900/mt and closed at RMB 12,850/mt, rising RMB 35/mt with shorts closing positions.
LME lead should narrowly move between USD 1,700-1,730/mt today. SHFE 1510 lead may hover between RMB 12,780-12,900/mt and RMB 13,100-13,250/mt for spot lead.