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Home / Metal News / SMM Morning Review - 2012/3/30 Lead Market

SMM Morning Review - 2012/3/30 Lead Market

Mar 30, 2012 09:26

Source:SMM

LME lead prices overnight rebounded after opening lower at USD 1,975/mt.

SHANGHAI, Mar. 30 (SMM) – LME lead prices overnight rebounded after opening lower at USD 1,975/mt. During European trading session, market sentiment was boosted with the support from US equities and since German finance minister said the euro zone firewall expansion would be discussed on Friday. As a result, LME lead prices trimmed losses and finally closed at USD 1,987.3/mt, up USD 12.3/mt. Trading volumes increased by 514 lots to 5,218 lots, and positions were up 1,815 lots to 124,000 lots. LME lead inventories fell by 125 mt to 376,725 mt.

The US dollar index closed at 79. COMEX 5 month silver closed at USD 31.99/oz, down USD 0.16/oz.

On Friday, SHFE lead prices should move between RMB 15,450-15,650/mt, and domestic spot prices are expected to be between RMB 15,550-15,700/mt.

LME lead

lead price

US dollar

COMEX silver

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