SMM Morning Review - 2012/2/13 Lead Market

SMM Insight 09:25:23AM Feb 13, 2012 Source:SMM

SHANGHAI, Feb. 13 (SMM) – LME lead prices overnight fluctuated narrowly around USD 2,210/mt after opening at USD 2,214/mt. Greek leaders failed to earn the second aid package at the eurozone finance ministers' meeting and the preliminary reading for February US Consumer Confidence Index dropped to 72.5, lower than expected. Coupled with S&P's downgrade for 34 Italian financial institutes, LME lead prices were under pressure and finally closed at USD 2,142/mt, down USD 78/mt or 3.51%. Trading volumes increased by 192 lots to 5,089 lots, and positions increased by 154 lots to 108,000 lots. LME lead inventories increased by 125 mt to 382,600 mt.

The US dollar index closed at 79.01, up 0.4%. COMEX silver closed at USD 33.6/oz, down 0.94%.

SHFE lead prices may move between RMB 16,000-16,300/mt on Monday. Domestic spot prices should be between RMB 15,900-16,050/mt.
 

SMM Morning Review - 2012/2/13 Lead Market

SMM Insight 09:25:23AM Feb 13, 2012 Source:SMM

SHANGHAI, Feb. 13 (SMM) – LME lead prices overnight fluctuated narrowly around USD 2,210/mt after opening at USD 2,214/mt. Greek leaders failed to earn the second aid package at the eurozone finance ministers' meeting and the preliminary reading for February US Consumer Confidence Index dropped to 72.5, lower than expected. Coupled with S&P's downgrade for 34 Italian financial institutes, LME lead prices were under pressure and finally closed at USD 2,142/mt, down USD 78/mt or 3.51%. Trading volumes increased by 192 lots to 5,089 lots, and positions increased by 154 lots to 108,000 lots. LME lead inventories increased by 125 mt to 382,600 mt.

The US dollar index closed at 79.01, up 0.4%. COMEX silver closed at USD 33.6/oz, down 0.94%.

SHFE lead prices may move between RMB 16,000-16,300/mt on Monday. Domestic spot prices should be between RMB 15,900-16,050/mt.