SMM Morning Review - 2012/7/23 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/7/23 Lead Market

Price Review & Forecast 09:14:55AM Jul 23, 2012 Source:SMM

SHANGHAI, Jul. 23 (SMM) – Last Friday, since Spanish bond yields climbed to a historical high of 7.18%, rekindling market concerns over the European debt issues, LME lead prices fell from USD 1,922/mt all the way to USD 1,890/mt, down USD 36/mt, or down 1.87%, but gained support at the 10-day moving average. Trading volumes were up 781 lots to 4,746 lots, while positions were down 1,567 lots to 121,737 lots. LME lead inventories fell 1,350 mt to 338325 mt.

The US dollar index closed at 83.49, and COMEX silver for September delivery closed at USD 27.30/oz.

On Monday, SHFE lead prices should move between RMB 14,900-15,050/mt with spot lead prices expected at RMB 14,950-15,100/mt.

Key Words:  lead price   LME lead 

SMM Morning Review - 2012/7/23 Lead Market

Price Review & Forecast 09:14:55AM Jul 23, 2012 Source:SMM

SHANGHAI, Jul. 23 (SMM) – Last Friday, since Spanish bond yields climbed to a historical high of 7.18%, rekindling market concerns over the European debt issues, LME lead prices fell from USD 1,922/mt all the way to USD 1,890/mt, down USD 36/mt, or down 1.87%, but gained support at the 10-day moving average. Trading volumes were up 781 lots to 4,746 lots, while positions were down 1,567 lots to 121,737 lots. LME lead inventories fell 1,350 mt to 338325 mt.

The US dollar index closed at 83.49, and COMEX silver for September delivery closed at USD 27.30/oz.

On Monday, SHFE lead prices should move between RMB 14,900-15,050/mt with spot lead prices expected at RMB 14,950-15,100/mt.

Key Words:  lead price   LME lead