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Affected by the commodity market, general sell-off in stock market and the upvaluation of U.S dollar, LME lead continued to drop to USD1067/MT on Wednesday. Following the downtrend of last week, lead price dropped further this week in Chinese market. Due to the oversupply, slackening demand ,the speed of price-drop sped up on Wednesday and Thursday.1# Lead price was down from RMB12400/MT last week to RMB10600/MT. 2# Lead dropped to RMB10300/MT. Effected by the dropping price of lead ingot, lead scrap and scrap lead-acid battery also declined to RMB4600/MT and RMB4400/MT separately. Most participants hold pessimistic attitude and predicted that the prices of lead might drop below RMB10000/MT in the near term.
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