SHANGHAI, Sept. 28 (SMM) – LME lead prices opened at USD 1,694.5/mt last Friday, then moved between USD 1,687-1,697/mt. During European trading session, LME lead prices edged down to USD 1,687-1,697/mt. US GDP grew 3.9% in Q2, better than the 3.7% rise expected. This fueled market speculation of Fed rate increase later this year. In this scenario, LME lead prices dipped to as low as USD 1,663.5/mt, and closed at USD 1,665/mt, down USD 25.5/mt. Trading volumes were down 862 to 3,571 lots, and total positions added 727 to 123,262. LME lead inventories increased 450 to 164,900 mt.
LME lead prices are expected to move between USD 1,650-1,680/mt today. SHFE 1511 lead contract prices will hover between RMB 13,150-13,270/mt, with spot prices between RMB 13,300-13,400/mt.