SMM Morning Review - 2012/5/28 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/28 Lead Market

SMM Insight 09:44:30AM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – LME lead prices were weighed on to fluctuated between USD 1,945-1,960/mt after opening at USD 1,948/mt last Friday due to fresh concerns about Spain's debt financing and S&P’s downgrade for several Spanish banks. LME lead prices closed at USD 1,949/mt. Trading volumes were down 767 lots to 3,188 lots, while positions were up 478 lots to around 118,000 lots. LME lead inventories fell to 349,200 mt, down 3,350 mt.

The US dollar index closed at 82.39, while COMEX silver for July delivery was up USD 0.186/oz to USD 28.39/oz.

On Monday, SHFE lead prices should be between RMB 15,100-15,200/mt, with spot lead prices expected between RMB 15,150-15,250/mt.

Key Words:  LME lead   lead price 

SMM Morning Review - 2012/5/28 Lead Market

SMM Insight 09:44:30AM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – LME lead prices were weighed on to fluctuated between USD 1,945-1,960/mt after opening at USD 1,948/mt last Friday due to fresh concerns about Spain's debt financing and S&P’s downgrade for several Spanish banks. LME lead prices closed at USD 1,949/mt. Trading volumes were down 767 lots to 3,188 lots, while positions were up 478 lots to around 118,000 lots. LME lead inventories fell to 349,200 mt, down 3,350 mt.

The US dollar index closed at 82.39, while COMEX silver for July delivery was up USD 0.186/oz to USD 28.39/oz.

On Monday, SHFE lead prices should be between RMB 15,100-15,200/mt, with spot lead prices expected between RMB 15,150-15,250/mt.

Key Words:  LME lead   lead price