SMM Morning Review - 2012/7/9 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/7/9 Lead Market

Price Review & Forecast 09:17:45AM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) – Since market was pessimistic on US economic prospects due to the lower-than-expected June non-farm payrolls and since it was reported Greece might hold another election, market was depressed again, driving LME lead prices to fluctuate down and hit a low of USD 1,840/mt, with prices finally closing at USD 1,852/mt, down USD 31.8/mt or down 1.69%. Trading volumes were down 870 lots to 3,439 lots, and positions were up 229 lots. LME lead inventories fell 100 mt to 348,475 mt.

The US dollar index rose above 83 to close at 83.28, and COMEX silver for September delivery closed at USD 26.92/oz.

On Monday, SHFE lead prices are expected to be RMB 14,750-15,000/mt, while spot lead prices should be between RMB 14,900-15,050/mt.

Key Words:  lead price   SHFE lead   LME lead 

SMM Morning Review - 2012/7/9 Lead Market

Price Review & Forecast 09:17:45AM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) – Since market was pessimistic on US economic prospects due to the lower-than-expected June non-farm payrolls and since it was reported Greece might hold another election, market was depressed again, driving LME lead prices to fluctuate down and hit a low of USD 1,840/mt, with prices finally closing at USD 1,852/mt, down USD 31.8/mt or down 1.69%. Trading volumes were down 870 lots to 3,439 lots, and positions were up 229 lots. LME lead inventories fell 100 mt to 348,475 mt.

The US dollar index rose above 83 to close at 83.28, and COMEX silver for September delivery closed at USD 26.92/oz.

On Monday, SHFE lead prices are expected to be RMB 14,750-15,000/mt, while spot lead prices should be between RMB 14,900-15,050/mt.

Key Words:  lead price   SHFE lead   LME lead