LME Lead Prices Decline Further Under Pressure of US Dollar Index

SHANGHAI, Mar 10 (SMM) - Overnight, LME lead opened at $2,092/mt and fell to the lowest point at $2,069/mt under the strong pressure of the US dollar index. As the number of people applying for unemployment benefits in the United States was higher than expected, LME Lead rebounded and finally closed at $2,083/mt, a decrease of 0.29%.

The tug of war between longs and shorts intensified. The most-traded SHFE 2304 lead contract fell to 15,165 yuan/mt after opening at 15,210 yuan/mt overnight, and then moved between 15,165-15,180 yuan/mt before closing at 15,165 yuan/mt, down 0.1%. Open interest fell 73 lots to 67,106 lots.