SMM Morning Review - 2012/1/19 Lead Market

SHANGHAI, Jan. 19 (SMM) – LME lead prices overnight opened at USD 2,092/mt and climbed. As Greece was reported to reach agreement with private creditor ahead of this weekend, boosting optimism over its debt negotiation, non-US currencies increased, while LME lead prices rose to hit USD 2,144/mt, and finally closed at USD 2,138/mt, up USD 34/mt, or 1.62%.

The US dollar index fluctuated down to close at 80.49, and COMEX silver closed at USD 30.5/oz, up 1.21%.

On Thursday, SHEF lead prices may move between RMB 15,700-16,000/mt. In China’s domestic spot market, transactions will remain quiet, and quotations should be between RMB 15,700-15,850/mt.