SMM Morning Review - 2012/5/30 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/30 Lead Market

SMM Insight 09:27:19AM May 30, 2012 Source:SMM

SHANGHAI, May 30 (SMM) – LME lead price opened at USD 1,955/mt overnight. No more negative news pertaining to the European debt issue was reported. Although US Consumer Confidence Index for May was reported lower than expectations and the previous data and Egan-Jones slashed Spain’s rating to BB- from B, market was not significantly affected. The US dollar remained fluctuating, and LME lead prices finally closed at USD 1,945/mt.

The US dollar index closed at 82.5, while COMEX silver for July delivery ended at USD 27.79/oz, down USD 0.6/oz or 2.1%.

On Wednesday, SHFE lead prices should move between RMB 15,150-15,300/mt, with spot lead prices expected between RMB 15,150-15,280/mt.

SMM Morning Review - 2012/5/30 Lead Market

SMM Insight 09:27:19AM May 30, 2012 Source:SMM

SHANGHAI, May 30 (SMM) – LME lead price opened at USD 1,955/mt overnight. No more negative news pertaining to the European debt issue was reported. Although US Consumer Confidence Index for May was reported lower than expectations and the previous data and Egan-Jones slashed Spain’s rating to BB- from B, market was not significantly affected. The US dollar remained fluctuating, and LME lead prices finally closed at USD 1,945/mt.

The US dollar index closed at 82.5, while COMEX silver for July delivery ended at USD 27.79/oz, down USD 0.6/oz or 2.1%.

On Wednesday, SHFE lead prices should move between RMB 15,150-15,300/mt, with spot lead prices expected between RMB 15,150-15,280/mt.