SMM Morning Review - 2012/6/20 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/6/20 Lead Market

Price Review & Forecast 09:30:31AM Jun 20, 2012 Source:SMM

SHANGHAI, Jun. 20 (SMM) – LME lead prices overnight opened at USD 1,901/mt and dipped to a low of USD 1,889/mt briefly. However, the G20 leaders’ pledge to provide new loans to IMF for settling crisis and lifting global economy eased market tensions. In response, the US dollar index fluctuated down, and LME lead prices rose to close at USD 1,913/mt, up USD 17/mt from the previous trading day. Trading volumes were up 231 lots to 3,292 lots while positions were down 1,513 lots to around 128,000 lots. LME lead inventories were up 350 mt to 345,200 mt.

The US dollar index fell to close at 81.16, while COMEX silver for July delivery closed at USD 28.4/oz, down USD 0.3/oz, or 1.05%.

On Wednesday, 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 15,030-15,150/mt.
 

Key Words:  LME lead   lead price   SHFE lead 

SMM Morning Review - 2012/6/20 Lead Market

Price Review & Forecast 09:30:31AM Jun 20, 2012 Source:SMM

SHANGHAI, Jun. 20 (SMM) – LME lead prices overnight opened at USD 1,901/mt and dipped to a low of USD 1,889/mt briefly. However, the G20 leaders’ pledge to provide new loans to IMF for settling crisis and lifting global economy eased market tensions. In response, the US dollar index fluctuated down, and LME lead prices rose to close at USD 1,913/mt, up USD 17/mt from the previous trading day. Trading volumes were up 231 lots to 3,292 lots while positions were down 1,513 lots to around 128,000 lots. LME lead inventories were up 350 mt to 345,200 mt.

The US dollar index fell to close at 81.16, while COMEX silver for July delivery closed at USD 28.4/oz, down USD 0.3/oz, or 1.05%.

On Wednesday, 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 15,030-15,150/mt.
 

Key Words:  LME lead   lead price   SHFE lead