SMM Morning Review - 2012/1/12 Lead Market

SMM Insight 09:16:55AM Jan 12, 2012 Source:SMM

SHANGHAI, Jan. 12 (SMM) – LME lead prices overnight fell after rising first. During Asian trading session, LME lead prices opened at USD 1,990/mt and fluctuated up to touch a high of USD 2,024/mt boosted by the falling US dollar index. During European trading session, however, as eurozone final GDP for 3Q was lower than expectations, LME lead prices surrendered some earlier gains and finally closed at USD 2,000/mt. Trading volumes of LME lead decreased by 532 lots to 3,963 lots, positions increased by 436 lots to 101,000 lots.

The US dollar index rose after dipping low and finally closed at 81.22. COMEX silver closed at USD 29.89/oz.

On Thursday, SHFE lead prices may be influenced by China's CPI and PPI data to be released and move between RMB 15,270-15,470/mt. Domestic spot prices should be RMB 15,250-15,370/mt.

SMM Morning Review - 2012/1/12 Lead Market

SMM Insight 09:16:55AM Jan 12, 2012 Source:SMM

SHANGHAI, Jan. 12 (SMM) – LME lead prices overnight fell after rising first. During Asian trading session, LME lead prices opened at USD 1,990/mt and fluctuated up to touch a high of USD 2,024/mt boosted by the falling US dollar index. During European trading session, however, as eurozone final GDP for 3Q was lower than expectations, LME lead prices surrendered some earlier gains and finally closed at USD 2,000/mt. Trading volumes of LME lead decreased by 532 lots to 3,963 lots, positions increased by 436 lots to 101,000 lots.

The US dollar index rose after dipping low and finally closed at 81.22. COMEX silver closed at USD 29.89/oz.

On Thursday, SHFE lead prices may be influenced by China's CPI and PPI data to be released and move between RMB 15,270-15,470/mt. Domestic spot prices should be RMB 15,250-15,370/mt.