SMM Morning Review - 2012/5/25 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/25 Lead Market

SMM Insight 10:18:52AM May 25, 2012 Source:SMM

SHANGHAI, May 25 (SMM) – Since the influence from weak euro zone PMI was offset by improved US jobless claims reported overnight, LME lead prices fluctuated up and regained losses from a day earlier after opening at USD 1,930/mt, but met resistance at the 5-day moving average to close at USD 1,949.8/mt. Trading volumes were down 1,132 lots to 3,955 lots, while positions were up 1,888 lots to around 117,000 lots. LME lead inventories fell to 352,550 mt, down 900 mt.

The US dollar index closed at 82.3, and COMEX silver for July delivery was up USD 0.7/oz, or 2.5%, to USD 28.2/oz.

On Friday, SHFE lead prices should be between RMB 15,050-15,250/mt, with spot lead prices expected between RMB 15,150-15,300/mt.
 

Key Words:  LME lead   lead price   COMEX silver 

SMM Morning Review - 2012/5/25 Lead Market

SMM Insight 10:18:52AM May 25, 2012 Source:SMM

SHANGHAI, May 25 (SMM) – Since the influence from weak euro zone PMI was offset by improved US jobless claims reported overnight, LME lead prices fluctuated up and regained losses from a day earlier after opening at USD 1,930/mt, but met resistance at the 5-day moving average to close at USD 1,949.8/mt. Trading volumes were down 1,132 lots to 3,955 lots, while positions were up 1,888 lots to around 117,000 lots. LME lead inventories fell to 352,550 mt, down 900 mt.

The US dollar index closed at 82.3, and COMEX silver for July delivery was up USD 0.7/oz, or 2.5%, to USD 28.2/oz.

On Friday, SHFE lead prices should be between RMB 15,050-15,250/mt, with spot lead prices expected between RMB 15,150-15,300/mt.
 

Key Words:  LME lead   lead price   COMEX silver