SMM Morning Review - 2012/6/19 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/6/19 Lead Market

SMM Insight 09:12:22AM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) – Although the pro-bailout New Democracy party won the Greek election, the resolution of European debt crisis did not achieve any substantial progress. Besides, the Spanish 10-year government bond yield surged as high as 7.2%, dragging LME lead prices to fall after opening at USD 1,935/mt overnight. Later, LME lead prices surrendered the earlier gains and closed at USD 1,896/mt, down USD 28/mt. or 1.46%. Trading volumes were up 17 lots to 3,061 lots while positions were down 156 lots to around 130,000 lots.

The US dollar index closed at 81.8, while COMEX silver for July delivery closed at USD 28.7/oz.

On Tuesday, SHFE lead prices are expected to be between RMB 15,000-15,200/mt, and traded prices in domestic spot market will be between RMB 15,000-15,150/mt.

Key Words:  lead price   SHFE lead   LME lead 

SMM Morning Review - 2012/6/19 Lead Market

SMM Insight 09:12:22AM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) – Although the pro-bailout New Democracy party won the Greek election, the resolution of European debt crisis did not achieve any substantial progress. Besides, the Spanish 10-year government bond yield surged as high as 7.2%, dragging LME lead prices to fall after opening at USD 1,935/mt overnight. Later, LME lead prices surrendered the earlier gains and closed at USD 1,896/mt, down USD 28/mt. or 1.46%. Trading volumes were up 17 lots to 3,061 lots while positions were down 156 lots to around 130,000 lots.

The US dollar index closed at 81.8, while COMEX silver for July delivery closed at USD 28.7/oz.

On Tuesday, SHFE lead prices are expected to be between RMB 15,000-15,200/mt, and traded prices in domestic spot market will be between RMB 15,000-15,150/mt.

Key Words:  lead price   SHFE lead   LME lead