SMM Morning Review - 2012/7/4 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/7/4 Lead Market

Price Review & Forecast 09:40:34AM Jul 04, 2012 Source:SMM

SHANGHAI, Jul. 4 (SMM) – Since market expected the Euro zone will lower interest rate on the policy meeting scheduled for Thursday and the Bank of England will extend its bond purchase plan, promoting investment sentiment, LME lead prices rose all the way to USD 1,941.5/mt after opening at USD 1,875.3/mt overnight, and settled at USD 1,926.8/mt, up USD 52/mt. Trading volumes were up 796 lots to 6,258 lots, and positions were down 1,342 lots. LME lead inventories fell 525 mt to 349,200 mt.

The US dollar index fluctuated narrowly and closed at 81.8, and COMEX silver for September delivery rose to close at USD 28.28/oz, up USD 0.78/oz, or up 2.84%.

On Wednesday, the most active SHFE 1210 lead contract price should move between RMB 14,850-15,100/mt, and spot lead prices are expected to be RMB 14,850-15,050/mt.

Key Words:  LME lead   lead price 

SMM Morning Review - 2012/7/4 Lead Market

Price Review & Forecast 09:40:34AM Jul 04, 2012 Source:SMM

SHANGHAI, Jul. 4 (SMM) – Since market expected the Euro zone will lower interest rate on the policy meeting scheduled for Thursday and the Bank of England will extend its bond purchase plan, promoting investment sentiment, LME lead prices rose all the way to USD 1,941.5/mt after opening at USD 1,875.3/mt overnight, and settled at USD 1,926.8/mt, up USD 52/mt. Trading volumes were up 796 lots to 6,258 lots, and positions were down 1,342 lots. LME lead inventories fell 525 mt to 349,200 mt.

The US dollar index fluctuated narrowly and closed at 81.8, and COMEX silver for September delivery rose to close at USD 28.28/oz, up USD 0.78/oz, or up 2.84%.

On Wednesday, the most active SHFE 1210 lead contract price should move between RMB 14,850-15,100/mt, and spot lead prices are expected to be RMB 14,850-15,050/mt.

Key Words:  LME lead   lead price