SMM Morning Review - 2012/1/13 Lead Market

SMM Insight 09:29:57AM Jan 13, 2012 Source:SMM

SHANGHAI, Jan. 13 (SMM) – LME lead prices overnight opened at USD 1,997/mt and tested the USD 2,000/mt mark. During European trading session, bonds auctions in Spain and Germany reported big success, and interest rate resolution of the Bank of England and the European Central Bank was in line with expectations, bringing positive signals. Thus, LME lead prices rose to touch a high of USD 2,049/mt, but fell slightly at the tail of trading and finally closed at USD 2,028/mt, up USD 28/mt, or 1.41%. Trading volumes increased by 386 lots to 4,349 lots, positions were down 1,146 lots to 100,000 lots.

The US dollar index fluctuated down and closed at 80.83, and COMEX silver closed at USD 30.1/oz, up USD 0.21/oz.

SHFE lead prices may open slightly higher and move between RMB 15,250-15,470/mt. In domestic spot market, transactions will remain quiet, and spot prices should be RMB 15,250-15,380/mt.

SMM Morning Review - 2012/1/13 Lead Market

SMM Insight 09:29:57AM Jan 13, 2012 Source:SMM

SHANGHAI, Jan. 13 (SMM) – LME lead prices overnight opened at USD 1,997/mt and tested the USD 2,000/mt mark. During European trading session, bonds auctions in Spain and Germany reported big success, and interest rate resolution of the Bank of England and the European Central Bank was in line with expectations, bringing positive signals. Thus, LME lead prices rose to touch a high of USD 2,049/mt, but fell slightly at the tail of trading and finally closed at USD 2,028/mt, up USD 28/mt, or 1.41%. Trading volumes increased by 386 lots to 4,349 lots, positions were down 1,146 lots to 100,000 lots.

The US dollar index fluctuated down and closed at 80.83, and COMEX silver closed at USD 30.1/oz, up USD 0.21/oz.

SHFE lead prices may open slightly higher and move between RMB 15,250-15,470/mt. In domestic spot market, transactions will remain quiet, and spot prices should be RMB 15,250-15,380/mt.