SMM Morning Review - 2012/1/17 Lead Market

SMM Insight 09:07:31AM Jan 17, 2012 Source:SMM

SHANGHAI, Jan. 17 (SMM) – LME lead prices overnight fell after rising first due mainly to the edging up US dollar index at the opening. However, by midday in US, S&P declared to downgrade EFSF from AAA to AA+. As a result, LME lead prices surrendered some earlier gains, but increased again at the tail of trading due to the falling US dollar index, and finally closed at USD 2,028/mt.

The US dollar index fluctuated down and closed at 81.47. COMEX silver closed at USD 29.5/oz, up 1.38%.

On Tuesday, SHFE lead prices may move between RMB 15,250-15,550/mt, and domestic spot prices should be 15,280-15,430/mt.

SMM Morning Review - 2012/1/17 Lead Market

SMM Insight 09:07:31AM Jan 17, 2012 Source:SMM

SHANGHAI, Jan. 17 (SMM) – LME lead prices overnight fell after rising first due mainly to the edging up US dollar index at the opening. However, by midday in US, S&P declared to downgrade EFSF from AAA to AA+. As a result, LME lead prices surrendered some earlier gains, but increased again at the tail of trading due to the falling US dollar index, and finally closed at USD 2,028/mt.

The US dollar index fluctuated down and closed at 81.47. COMEX silver closed at USD 29.5/oz, up 1.38%.

On Tuesday, SHFE lead prices may move between RMB 15,250-15,550/mt, and domestic spot prices should be 15,280-15,430/mt.