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SMM Morning Review - 2012/3/14 Lead Market
Mar 14,2012 09:16CST
smm insight
Source:SMM
LME lead prices overnight opened at USD 2,142/mt and fluctuated up with support at the 10-day moving average.

SHANGHAI, Mar. 14 (SMM) – LME lead prices overnight opened at USD 2,142/mt and fluctuated up with support at the 10-day moving average. During European trading hours, although US Federal Reserve meeting on interest rate still did not mention the implementation of QE3, the Fed expected a “moderate” US growth, showing some optimism to economic outlook. Meanwhile, the Greek debt issue eased somewhat due to debt swap deal, Fitch Ratings upgraded rating for Greece to stable. LME lead price were driven to rise to USD 2,174/mt and finally closed at USD 2,163/mt, up USD 21.3/mt. Traded volumes decreased by 110 lots to 2,657 lots, and positions were down 700 lots to 111,000 lots. LME lead inventories increased by 1,700 mt to 365,325 mt.

The US dollar index rose above the 80 mark to close at 80.15. COMEX 5 month silver closed at USD 33.36/oz, down 1.02%.

On Wednesday, SHFE lead prices should move between RMB 15,900-16,150/mt, and domestic spot prices are expected to be RMB 15,850-16,000/mt.

LME lead
lead price
US dollar index
COMEX silver

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