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Home / Metal News / SMM Morning Review - 2010/9/13 Lead Market

SMM Morning Review - 2010/9/13 Lead Market

Sep 13, 2010 10:18

Source:SMM

moring review for lead market

SHANGHAI, Sep. 13(SMM) --

Last Friday, Market concerns over that the People’s Bank of China may raise interest rates appeared due to the earlier-than-scheduled release of China’s CPI and other major data . In this context, base metal market closed down. LME lead market tested USD 2,205/mt, but failed to stand above the USD 2,200/mt mark to finish at USD 2,170/mt. SMM expects that LME lead market may need to wait for guidance from macro data and fluctuate between USD 2,180-2,210/mt in the near future.

In neighboring markets, the US stocks closed high last Friday. The US dollar index rose to 82.987 and then moved down. Gold futures for December delivery closed USD 4.40 lower at USD 1246.50 per ounce; silver futures for December delivery closed 1 cent lower at USD 19.845 per ounce.

SMM expects that domestic lead will be traded in the RMB 16,150-16,300/mt range on this Monday.

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The moves of SHFE and LME have been heading toward different directions recently. As of December 8, LME lead has been falling for five consecutive sessions. SHFE lead, on the other hand, rallied strongly after falling for two days in a row, and rose 1.88% to 15,175 yuan/mt to close the day.

Dec 9, 2021 14:05

SMM Insight

SHFE Lead Outperformed LME Lead amid Sound Demand among Others

Supply-Demand of Zinc Ingots to Return to a Tight Balance in December amid Maintenance at Smelters

Market focus this week includes the readings of the manufacturing PMI in the Eurozone in November and the Markit manufacturing PMI in the United States in November; the one-year loan market interest rate as of November 22 in China. On the events front, the Federal Reserve FOMC will release the minutes of the monetary policy meeting this Thursday; Bank of England Governor Bailey will deliver a speech this Friday.

Nov 23, 2021 10:15

SMM Insight SMM Comments

Supply-Demand of Zinc Ingots to Return to a Tight Balance in December amid Maintenance at Smelters

Nickel prices dropped on inventory increase

Nickel stocks across LME-approved warehouses gained 2,874 mt on Monday to 69,180 mt

Nov 5, 2019 14:09

SMM Comments

Nickel prices dropped on inventory increase

LME Lead Inventory Setting New Low, while SHFE Lead Inventory Reaches New High

As per data released by LME on Thursday. LME Lead inventory is 145,075 tons, setting new low during past two years.

Dec 1, 2017 14:28

Analysis

LME Lead Inventory Setting New Low, while SHFE Lead Inventory Reaches New High

Dropping LME Copper Inventory Comes to an End, Keeping Vigilant at Potential Surge

Recently see continuous drop of LME Copper inventory. During Sept.26th to Nov.23rd, LME inventory totally dropped 86,075 tons but copper price is scarcely boosted by the inventory tendency.

Nov 28, 2017 16:03

SMM Insight

Dropping LME Copper Inventory Comes to an End, Keeping Vigilant at Potential Surge

Good Fundamentals for LME Zinc, with LME Inventory Slipping to New Low

As per data released by LME on Wednesday, LME Zinc inventory dropped to 222,525 tons. As per data released by SHFE, SHFE Zinc inventory rose to 84,510 tons last Friday.

Nov 23, 2017 14:26

Industry

Good Fundamentals for LME Zinc, with LME Inventory Slipping to New Low

SMM Analysis: LME Copper Inventory Slumping by Transfer, Weak Demand Encumbers Copper Price

LME Inventory continued to drop over 7,000 tonnes last night. LME Copper rebounded under this influence. SHFE Copper followed with LME with less strength.

Nov 23, 2017 10:52

Analysis SMM Comments

SMM Analysis: LME Copper Inventory Slumping by Transfer, Weak Demand Encumbers Copper Price

Fund Managers to Unload Net Long of LME Zinc Slightly

As per commitments of traders report released by LME this Tuesday, up to Nov.3rd, fund managers have loaded net long of LME Zinc of 76,101 hands, 477 hands lower than last week.

Nov 8, 2017 16:34

Industry

Fund Managers to Unload Net Long of LME Zinc Slightly

Chilwee Group Announces Production Suspension for Upcoming Holiday

Domestic lead-acid battery producers have recently announced output cut plans for the upcoming 2017 Chinese National Day and Mid-Autumn holidays in early October.

Sep 27, 2017 09:37

Industry Reminder

Chilwee Group Announces Production Suspension for Upcoming Holiday

Higher Tax Squeezes Profits at China Lead-acid Battery Producers, SMM Reports

Domestic lead-acid battery producers face growing cost burdens in 2017, SMM lead analyst said 2017 SMM Secondary Lead-acid Battery Summit.

Sep 15, 2017 15:14

SMM Insight

Higher Tax Squeezes Profits at China Lead-acid Battery Producers, SMM Reports

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SMM Morning Review - 2010/9/13 Lead Market

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit