SMM Morning Review - 2012/2/23 Lead Market

SMM Insight 09:21:51AM Feb 23, 2012 Source:SMM

SHANGHAI, Feb. 23 (SMM) – LME lead prices fluctuated between USD 2,100-2,120/mt during Asian trading hours. In European trading hours, as eurozone economic data turned out to be worse than expected, and since Fitch Ratings downgraded rating of Greece from CCC to C, LME lead prices dropped below USD 2,100/mt but later moved up to USD 2,150/mt and finally closed at USD 2,142/mt, up USD 29.8/mt or 1.41%. Trading volumes increased by 261 lots to 4,625 lots, and positions decreased by 1,022 lots to 110,000 lots. LME lead inventories decreased by 1,750 mt to 374,225 mt.

The US dollar index closed at 79.22, up 0.11. COMEX 5 month silver closed at USD 34.33/oz, down USD 0.17/oz.

On Thursday, SHFE lead prices are expected to fluctuate between RMB 15,750-16,050/mt. Domestic spot prices should maintain at RMB 15,700-15,850/mt.
 

Key Words:  LME lead   lead price   COMEX silver 

SMM Morning Review - 2012/2/23 Lead Market

SMM Insight 09:21:51AM Feb 23, 2012 Source:SMM

SHANGHAI, Feb. 23 (SMM) – LME lead prices fluctuated between USD 2,100-2,120/mt during Asian trading hours. In European trading hours, as eurozone economic data turned out to be worse than expected, and since Fitch Ratings downgraded rating of Greece from CCC to C, LME lead prices dropped below USD 2,100/mt but later moved up to USD 2,150/mt and finally closed at USD 2,142/mt, up USD 29.8/mt or 1.41%. Trading volumes increased by 261 lots to 4,625 lots, and positions decreased by 1,022 lots to 110,000 lots. LME lead inventories decreased by 1,750 mt to 374,225 mt.

The US dollar index closed at 79.22, up 0.11. COMEX 5 month silver closed at USD 34.33/oz, down USD 0.17/oz.

On Thursday, SHFE lead prices are expected to fluctuate between RMB 15,750-16,050/mt. Domestic spot prices should maintain at RMB 15,700-15,850/mt.
 

Key Words:  LME lead   lead price   COMEX silver