Home / Metal News / Copper / SMM Morning Review - 2011/7/20 Lead Market
SMM Morning Review - 2011/7/20 Lead Market
Jul 20,2011 09:15CST
smm insight
Source:SMM
On Tuesday, LME lead prices rose to USD 2,773/mt after opening at around the 5-day moving average

SHANGHAI, Jul. 20 (SMM) – On Tuesday, LME lead prices rose to USD 2,773/mt after opening at around the 5-day moving average. Later, the better-than-expected US economic data and expectation of the bailout plan for Greece pushed up the Euro, weighing down the US dollar index. In response, LME lead prices rose to USD 2,779/mt, but met strong resistance at USD 2,800/mt, finally closing at USD 2,764.5/mt, up USD 33.5/mt or 1.23%. SMM expects LME lead prices may fluctuated between USD 2,730-2,790/mt on Wednesday.

In neighboring markets, the US dollar index finally settled at 75.101.

SMM expects domestic lead spot prices to be between RMB 17,000-17,300/mt on Wednesday.


Copyright © SMM. All Rights Reserved 

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

 

 

lead Pb

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn