SMM Morning Review - 2012/5/2 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/2 Lead Market

SMM Insight 09:35:59AM May 02, 2012 Source:SMM

SHANGHAI, May 2 (SMM) – LME lead prices opened at USD 2,145/mt and maintained stable. During European trading session, the US ISM Manufacturing PMI for April was reported above expectations and previous data to 54.8, boosting LME lead prices to reach a high of USD 2,183.8/mt and finally close at USD 2,167.8/mt, up USD 21.5/mt. Trading volumes were down 272 lots to 4,129 lots, and positions fell 2191 lots to around 116,000 mt. LME lead inventories were down 1,600 mt to 359,500 mt.

The US dollar index closed at 78.83, while COMEX 3 month silver ended at USD 31/oz.

On Wednesday, SHFE lead prices may move between RMB 15,700-16,000/mt, and domestic spot prices should be between RMB 15,650-15,800/mt.

SMM Morning Review - 2012/5/2 Lead Market

SMM Insight 09:35:59AM May 02, 2012 Source:SMM

SHANGHAI, May 2 (SMM) – LME lead prices opened at USD 2,145/mt and maintained stable. During European trading session, the US ISM Manufacturing PMI for April was reported above expectations and previous data to 54.8, boosting LME lead prices to reach a high of USD 2,183.8/mt and finally close at USD 2,167.8/mt, up USD 21.5/mt. Trading volumes were down 272 lots to 4,129 lots, and positions fell 2191 lots to around 116,000 mt. LME lead inventories were down 1,600 mt to 359,500 mt.

The US dollar index closed at 78.83, while COMEX 3 month silver ended at USD 31/oz.

On Wednesday, SHFE lead prices may move between RMB 15,700-16,000/mt, and domestic spot prices should be between RMB 15,650-15,800/mt.