SMM Morning Review - 2011/9/19 Lead Market

Sep 19, 2011 10:09

LME lead prices overnight edged up after opening last Friday. US CCI was 57.8, higher than forecasts, boosting LME lead prices to USD 2,424/mt.

SHANGHAI, Sept. 15 (SMM)--LME lead prices overnight edged up after opening last Friday. US CCI was 57.8, higher than forecasts, boosting LME lead prices to USD 2,424/mt. As US stocks rolled back previous gains on concerns over European debt crisis, and since LME inventories surged 5,075 mt, LME lead prices plummeted USD 35/mt to close at USD 2,356/mt. LME lead prices should move between USD 2,335-2,400/mt today since European debt crisis is still a focus of markets.

SHFE 1110 lead contract prices should move between RMB 16,250-16,450/mt. Spot lead should be traded between RMB 16,050-16,200/mt, with discounts between negative RMB 180-230/mt.

LME lead prices

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SMM Morning Review - 2011/9/19 Lead Market

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