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SMM Morning Review - 2012/5/24 Lead Market
May 24,2012 10:07CST
smm insight
Source:SMM
LME lead prices hit a low of USD 1,906/mt after opening at USD 1,945/mt since EU meeting made no substantial progress and the US dollar index rose above 82.

SHANGHAI, May 24 (SMM) – LME lead prices hit a low of USD 1,906/mt after opening at USD 1,945/mt since EU meeting made no substantial progress and the US dollar index rose above 82. However, as the existing home sales for April reached two-year high, LME lead prices stopped falling and finally closed at USD 1,933/mt. Trading volumes were up 1,005 lots to 5,087 lots, while positions were up 578 lots. LME lead inventories fell to 353,450 mt, down sharply by 3,850 mt.

The US dollar index closed at 82.14, while COMEX silver for July delivery was down USD 0.7/oz, or 2.84%, to USD 27.5/oz.

On Thursday, SHFE lead prices should be between RMB 15,000-15,200/mt, with spot lead prices expected between RMB 15,150-15,250/mt.

LME lead
lead price
COMEX silver
US dollar

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