SMM Morning Review - 2012/2/14 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/14 Lead Market

SMM Insight 09:38:17AM Feb 14, 2012 Source:SMM

SHANGHAI, Feb 14 (SMM) – LME lead prices overnight fluctuated up after opening at USD 2,146/mt as Greek parliament approved the austerity measures on Monday morning. However, market players were still uncertain about whether or not Greece would obtain the second round bailout loans. As a result, LME lead prices fell nearly USD 40/mt and moved around USD 2,115/mt, and finally closed at USD 2,124/mt, down USD 18/mt. Trading volumes decreased by 13 lots to 5,076 lots, positions were down 374 lots to 108,000 lots. LME lead inventories decreased by 850 mt to 381,750 mt.

The US dollar index closed at 79.13, up 0.12. COMEX silver closed at USD 33.72/oz, up USD 12.7/oz.

On Tuesday, SHFE lead prices are expected to move between RMB 15,870-16,120/mt. Domestic spot prices should be between RMB 15,750-15,950/mt.

Key Words:  LME lead   lead price   lead Pb 

Price

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#1 Refined Cu
Apr.22
49450.0
20.0
(0.04%)
Yangshan Copper Premium(Bill of Lading)
Apr.22
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.22
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

SMM Morning Review - 2012/2/14 Lead Market

SMM Insight 09:38:17AM Feb 14, 2012 Source:SMM

SHANGHAI, Feb 14 (SMM) – LME lead prices overnight fluctuated up after opening at USD 2,146/mt as Greek parliament approved the austerity measures on Monday morning. However, market players were still uncertain about whether or not Greece would obtain the second round bailout loans. As a result, LME lead prices fell nearly USD 40/mt and moved around USD 2,115/mt, and finally closed at USD 2,124/mt, down USD 18/mt. Trading volumes decreased by 13 lots to 5,076 lots, positions were down 374 lots to 108,000 lots. LME lead inventories decreased by 850 mt to 381,750 mt.

The US dollar index closed at 79.13, up 0.12. COMEX silver closed at USD 33.72/oz, up USD 12.7/oz.

On Tuesday, SHFE lead prices are expected to move between RMB 15,870-16,120/mt. Domestic spot prices should be between RMB 15,750-15,950/mt.

Key Words:  LME lead   lead price   lead Pb