SMM Morning Review - 2012/6/13 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/6/13 Lead Market

SMM Insight 09:38:49AM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) – LME lead prices opened at USD 1,900/mt overnight. Although Fitch cut credit ratings for 18 Spanish banks again following the downgrades by Moody’s and S&P, market was more attentive to the concerns aroused by the bailout to Spain and the uncertainty to the Greek election. Therefore, most investors just stayed out of the market and wait on the sidelines. LME lead prices presented a stable trend between USD 1,895-1,910/mt and ended at USD 1,897/mt. Trading volumes were up 57 lots to 2,084 lots, and positions were down 120 lots. LME lead inventories rose by 300 mt to 345,075 mt.

The US dollar index closed at 82.4, while COMEX silver for July delivery closed at USD 28.9/oz, up USD 0.4/mt.

On Wednesday, SHFE lead prices are expected to move between RMB 14,950-15,100/mt, and domestic spot prices will change little from the previous trading day and remain between RMB 14,950-15,100/mt.
 

Key Words:  lead price   LME lead price 

SMM Morning Review - 2012/6/13 Lead Market

SMM Insight 09:38:49AM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) – LME lead prices opened at USD 1,900/mt overnight. Although Fitch cut credit ratings for 18 Spanish banks again following the downgrades by Moody’s and S&P, market was more attentive to the concerns aroused by the bailout to Spain and the uncertainty to the Greek election. Therefore, most investors just stayed out of the market and wait on the sidelines. LME lead prices presented a stable trend between USD 1,895-1,910/mt and ended at USD 1,897/mt. Trading volumes were up 57 lots to 2,084 lots, and positions were down 120 lots. LME lead inventories rose by 300 mt to 345,075 mt.

The US dollar index closed at 82.4, while COMEX silver for July delivery closed at USD 28.9/oz, up USD 0.4/mt.

On Wednesday, SHFE lead prices are expected to move between RMB 14,950-15,100/mt, and domestic spot prices will change little from the previous trading day and remain between RMB 14,950-15,100/mt.
 

Key Words:  lead price   LME lead price