SMM Morning Review - 2012/5/10 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/10 Lead Market

SMM Insight 09:19:23AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – LME lead prices opened at USD 2,083/mt overnight and fluctuated down. Market was still influenced by the political upheaval in Greece, with LME lead prices dipping to a low of USD 2,045/mt. At the tail of trading, however, EFSF decided to provide loans to Greece, easing market concerns over the Greek default, so LME lead prices regained some earlier losses to close at USD 2,079/mt. Trading volumes were down 213 lots to 4, 245 lots, while positions were down 2,117 lots to around 117,000 lots. LME lead inventories fell 2,700 mt to 353,825 mt.

The US dollar index closed at 80.14, and COMEX silver for July delivery was down USD 0.26/oz to USD 29.24/oz.

On Thursday, SHFE lead prices should be between RMB 15,580-15,750/mt, while spot lead prices are expected to be in the RMB 15,400-15,600/mt range.
 

Key Words:  LME lead   lead price 

SMM Morning Review - 2012/5/10 Lead Market

SMM Insight 09:19:23AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – LME lead prices opened at USD 2,083/mt overnight and fluctuated down. Market was still influenced by the political upheaval in Greece, with LME lead prices dipping to a low of USD 2,045/mt. At the tail of trading, however, EFSF decided to provide loans to Greece, easing market concerns over the Greek default, so LME lead prices regained some earlier losses to close at USD 2,079/mt. Trading volumes were down 213 lots to 4, 245 lots, while positions were down 2,117 lots to around 117,000 lots. LME lead inventories fell 2,700 mt to 353,825 mt.

The US dollar index closed at 80.14, and COMEX silver for July delivery was down USD 0.26/oz to USD 29.24/oz.

On Thursday, SHFE lead prices should be between RMB 15,580-15,750/mt, while spot lead prices are expected to be in the RMB 15,400-15,600/mt range.
 

Key Words:  LME lead   lead price