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SMM Morning Review - 2011/7/19 Lead Market
Jul 19,2011 09:09CST
smm insight
On Monday, LME lead prices fluctuated narrowly above USD 2,700/mt

SHANGHAI, Jul. 19 (SMM) – On Monday, LME lead prices fluctuated narrowly above USD 2,700/mt. In the afternoon trading, LME lead prices climbed to USD 2,744/mt after the US dollar index fell back from previous high levels, but were still facing strong resistance at USD 2,750/mt. During the European trading session, LME lead prices mainly fluctuated between USD 2,715-2,740/mt, finally closing at USD 2,731/mt, up USD 15/mt. SMM expects LME lead prices may fluctuate between USD 2,690-2,750/mt on Tuesday.

In neighboring markets, the US dollar index finally settled at 75.310.

SMM expects domestic lead spot prices to be between RMB 16,950-17,150/mt on Tuesday.

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