SMM Morning Review - 2012/3/28 Lead Market

Mar 28, 2012 09:17

LME lead prices opened at USD 2,008/mt overnight due to a lack of momentum from substantial events.

SHANGHAI, Mar. 28 (SMM) – With the impact of Bernanke’s speech reducing, LME lead prices opened at USD 2,008/mt overnight due to a lack of momentum from substantial events. The US dollar index rose up, dragging LME lead prices down to touch a low of USD 1,976/mt. LME lead prices finally closed at USD 1,992/mt, down USD 14/mt. Trading volumes lowered by 112 lots to 4,530 lots, and positions increased by 3,375 lots to 121,000 lots. LME lead inventories rose further by 1,050 mt to 377,225 mt.

The US dollar index closed at 79.1. COMEX 5 month silver closed at USD 32.6/oz, down USD 0.15/oz.

On Wednesday, SHFE lead prices should move between RMB 15,550-15,800/mt, and domestic spot prices are expected to be between RMB 15,650-15,750/mt.

LME lead

lead price

US dollar

COMEX silver

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SMM Morning Review - 2012/3/28 Lead Market

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