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SMM Morning Review - 2011/7/4 Lead Market
Jul 4,2011 09:06CST
smm insight

SHANGHAI, Jul. 4 (SMM) – LME lead prices fluctuated narrowly between USD 2,645-2,670/mt after opening overnight, affected by China’s weak economic data. During the European trading session, LME lead prices returned an upside track due to the US better-than-expected manufacturing data for June, with prices hitting as high as USD 2,679.8/mt. But LME lead prices fell slightly back at end of the trading, finally closing at USD 2,664.5/mt, down USD 6/mt. SMM expects LME lead prices may fluctuate between USD 2,630-2,680/mt in the short term.

In neighboring markets, the US dollar index finally settled at 74.283.

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

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