SMM Morning Review - 2012/2/3 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/3 Lead Market

SMM Insight 09:08:35AM Feb 03, 2012 Source:SMM

SHANGHAI, Feb 3 (SMM) – LME lead prices overnight opened at USD 2,230/mt and moved weakly around the level. During European trading hours, LME lead prices slumped dramatically to USD 2,142/mt at the tail of trading and finally closed at USD 2,158/mt, down USD 72/mt or down 3.23%. Settlement prices were at USD 2,199/mt. LME lead inventories continued to increase by 3,775 mt to 370,000 mt.

The US dollar index fell after increasing first to close at 78.98, up 0.12. COMEX silver closed at USD 34.18/oz, up 1.09%.

On Friday, SHFE lead prices may move between RMB 15,850-16,150/mt. Domestic spot prices should be between RMB 15,700-15,900/mt.

Price

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SMM #1 Nickel
Apr.22
101450.0
700.0
(0.69%)
#1 JinChuan Nickel
Apr.22
102400.0
850.0
(0.84%)
#1 Import Nickel
Apr.22
100500.0
550.0
(0.55%)
JinChuan B&C
Apr.22
2650.0
150.0
(6.00%)
Russian nickel premium
Apr.22
775.0
-100.0
(-11.43%)

SMM Morning Review - 2012/2/3 Lead Market

SMM Insight 09:08:35AM Feb 03, 2012 Source:SMM

SHANGHAI, Feb 3 (SMM) – LME lead prices overnight opened at USD 2,230/mt and moved weakly around the level. During European trading hours, LME lead prices slumped dramatically to USD 2,142/mt at the tail of trading and finally closed at USD 2,158/mt, down USD 72/mt or down 3.23%. Settlement prices were at USD 2,199/mt. LME lead inventories continued to increase by 3,775 mt to 370,000 mt.

The US dollar index fell after increasing first to close at 78.98, up 0.12. COMEX silver closed at USD 34.18/oz, up 1.09%.

On Friday, SHFE lead prices may move between RMB 15,850-16,150/mt. Domestic spot prices should be between RMB 15,700-15,900/mt.