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Home / Metal News / SMM Morning Review - 2012/5/23 Lead Market

SMM Morning Review - 2012/5/23 Lead Market

iconMay 23, 2012 10:36
LME lead prices rallied after slumping initially.

SHANGHAI, May 23 (SMM) – LME lead prices dropped sharply overnight since Lucas Papademos, the former prime minister of Greece, said risk still exists that Greece may leave the euro zone and since the US dollar index hit a new yearly high of 81.8. However, LME lead prices regained some earlier gains influenced by the above-expected house sales data, and closed at USD 1,952/mt. Trading volumes were down 1,112 lots to 4,082 lots, while positions were up 703 lots. LME lead inventories fell to 357,300 mt, down 700 mt.

The US dollar index hit a new yearly high of 81.8, while COMEX silver for July delivery was down USD 0.1/oz to USD 28.2/oz.

On Wednesday, SHFE lead prices should be between RMB 15,050-15,250/mt, with spot lead prices expected between RMB 15,150-15,250/mt.
 

LME lead
lead price
COMEX silver
US dollar
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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