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Home / Metal News / SMM Morning Review - 2011/7/1 Lead Market

SMM Morning Review - 2011/7/1 Lead Market

iconJul 1, 2011 09:07
Source:SMM

SHANGHAI, Jul. 1 (SMM) – On Thursday, LME lead prices found support at the 5-day moving average after slight falls. After the Greek parliament approved the 5-year euro zone bailout policies, the euro strengthened and the June Chicago PMI in the US was 61.1, better than the forecast. In response, LME lead prices retained the upside trend and rose USD 2,680/mt, the highest over the past two and a half months, with prices finally closing at USD 2,671/mt, up USD 44/mt, or a gain of 1.67%. SMM expects LME lead prices may fluctuate between USD 2,600-2,700/mt on Friday.

In neighboring markets, the US dollar index settled at 74.505.

SMM expects domestic lead spot prices to be RMB 16,250-16,400/mt on Friday.


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lead pb

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