SMM Morning Review - 2012/1/4 Lead Market

SMM Insight 09:46:36AM Jan 04, 2012 Source:SMM

SHANGHAI, Jan. 4 (SMM) – LME lead prices overnight opened at USD 2,045/mt. As PMI data for China, France, Germany, Italy and the US released since weekend turned out to be better than expectations, helping mitigate risk aversion sentiment, the US dollar index fluctuated down. Thus, LME lead prices rose to touch USD 2,100/mt and finally closed at USD 2,082/mt. LME lead prices should move between USD 2,040-2,100/mt today.

The US dollar index fluctuated down and closed at 79.66, and COMEX silver closed at USD 29.57/oz, up USD 1.66/oz, or 5.9%.

On Wednesday, the first trading day in 2012, SHFE lead prices are expected to gap higher and move between RMB 15,350-15,600/mt, and domestic spot prices should be RMB 15,350-15,500/mt.
 

SMM Morning Review - 2012/1/4 Lead Market

SMM Insight 09:46:36AM Jan 04, 2012 Source:SMM

SHANGHAI, Jan. 4 (SMM) – LME lead prices overnight opened at USD 2,045/mt. As PMI data for China, France, Germany, Italy and the US released since weekend turned out to be better than expectations, helping mitigate risk aversion sentiment, the US dollar index fluctuated down. Thus, LME lead prices rose to touch USD 2,100/mt and finally closed at USD 2,082/mt. LME lead prices should move between USD 2,040-2,100/mt today.

The US dollar index fluctuated down and closed at 79.66, and COMEX silver closed at USD 29.57/oz, up USD 1.66/oz, or 5.9%.

On Wednesday, the first trading day in 2012, SHFE lead prices are expected to gap higher and move between RMB 15,350-15,600/mt, and domestic spot prices should be RMB 15,350-15,500/mt.