SMM Morning Review - 2012/5/16 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/16 Lead Market

SMM Insight 09:55:34AM May 16, 2012 Source:SMM

SHANGHAI, May 16 (SMM) – As Greece’s attempts to form a ruling coalition in Athens broke down, intensifying market concerns over the exit of Greece from euro zone, LME lead prices opened at USD 2,035/mt overnight and fluctuated down to hit a low of USD 2,005/mt. LME lead prices finally closed at USD 2,009/mt. Trading volumes were up 1,632 lots to 5,439 lots, while positions were down 2,118 lots to around 111,000 lots. LME lead inventories rose to 359,100 mt, up 6,825 mt.

The US dollar index closed at 81.25, and COMEX silver for July delivery was down USD 0.17/oz to USD 27.56/oz.

On Wednesday, SHFE lead prices should be between RMB 15,400-15,580/mt, with spot lead prices expected between RMB 15,400-15,500/mt.

Key Words:  LME lead   lead price 

SMM Morning Review - 2012/5/16 Lead Market

SMM Insight 09:55:34AM May 16, 2012 Source:SMM

SHANGHAI, May 16 (SMM) – As Greece’s attempts to form a ruling coalition in Athens broke down, intensifying market concerns over the exit of Greece from euro zone, LME lead prices opened at USD 2,035/mt overnight and fluctuated down to hit a low of USD 2,005/mt. LME lead prices finally closed at USD 2,009/mt. Trading volumes were up 1,632 lots to 5,439 lots, while positions were down 2,118 lots to around 111,000 lots. LME lead inventories rose to 359,100 mt, up 6,825 mt.

The US dollar index closed at 81.25, and COMEX silver for July delivery was down USD 0.17/oz to USD 27.56/oz.

On Wednesday, SHFE lead prices should be between RMB 15,400-15,580/mt, with spot lead prices expected between RMB 15,400-15,500/mt.

Key Words:  LME lead   lead price