SMM Morning Review - 2012/6/21 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/6/21 Lead Market

Price Review & Forecast 09:15:39AM Jun 21, 2012 Source:SMM

SHANGHAI, Jun. 21 (SMM) – LME lead prices overnight hovered near USD 1,900/mt after opening at USD 1,907/mt with market remaining cautious and waiting for result from Fed’s meeting. Later, as the Fed announced to keep interest rate unchanged at 0-0.25% until 2014 and showed no intention of launching QE3 measures, depressing investors. As a result, LME lead prices fluctuated down to close at USD 1876.8/mt, down USD 36.3/mt, or 1.89%. Trading volumes were up 972 lots to 4,264 lots, and positions remained unchanged from the previous trading day. LME lead inventories were up 1,875 mt to 347,075 mt.

The US dollar index closed at 81.56, while COMEX silver for July delivery closed at USD 28.38/oz.

SHFE lead prices are expected to move between RMB 14,900-15,050/mt on Thursday  with spot lead between RMB 14,950-15,100/mt.

Key Words:  LME lead   lead price   SHFE lead 

SMM Morning Review - 2012/6/21 Lead Market

Price Review & Forecast 09:15:39AM Jun 21, 2012 Source:SMM

SHANGHAI, Jun. 21 (SMM) – LME lead prices overnight hovered near USD 1,900/mt after opening at USD 1,907/mt with market remaining cautious and waiting for result from Fed’s meeting. Later, as the Fed announced to keep interest rate unchanged at 0-0.25% until 2014 and showed no intention of launching QE3 measures, depressing investors. As a result, LME lead prices fluctuated down to close at USD 1876.8/mt, down USD 36.3/mt, or 1.89%. Trading volumes were up 972 lots to 4,264 lots, and positions remained unchanged from the previous trading day. LME lead inventories were up 1,875 mt to 347,075 mt.

The US dollar index closed at 81.56, while COMEX silver for July delivery closed at USD 28.38/oz.

SHFE lead prices are expected to move between RMB 14,900-15,050/mt on Thursday  with spot lead between RMB 14,950-15,100/mt.

Key Words:  LME lead   lead price   SHFE lead