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SMM Morning Review - 2012/2/9 Lead Market
Feb 9,2012 08:58CST
smm insight
LME lead prices overnight opened at USD 2,162/mt.

SHANGHAI, Feb 9 (SMM) – LME lead prices overnight opened at USD 2,162/mt. During Asian trading hours, market sentiments were optimistic due to the positive news on Greek debt talk from Tuesday, boosting LME lead prices to touch a high of USD 2,235/mt, but with pressure at the 10-day moving average. During the European trading hours, as no actual progress on Greek debt issue was reported, high-risk currencies fell slightly. As a result, LME lead prices dropped to finally close at USD 2,185/mt, down USD 4/mt. Trading volumes decreased by 1,026 lots to 4,569 lots, and positions increased by 761 lots to 111,000 lots. LME lead inventories decreased slightly by 25 mt to 376,025 mt.

The US dollar index closed at 78.73, and COMEX silver closed at USD 33.7/oz, down 1.43%.

On Thursday, SHFE lead prices are expected to move between RMB 16,000-16,300/mt, and domestic spot prices should be between RMB 15,900-16,100/mt.

LME lead
lead prices
COMEX silver
US dollar index

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