SMM Morning Review - 2012/7/26 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2012/7/26 Lead Market

Price Review & Forecast 09:13:57AM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – LME lead prices overnight opened at USD 1,855.5/mt and moved down to RMB 1,845/mt during Asian trading session since market sentiment was dented by the deteriorating European debt issues. During European trading hours, as official of the European Central Bank considered to grant the ESM a banking license to help inject liquidity into European countries in the future, LME lead prices rose to USD 1,874/mt but fell later since the US June new home sales hit five-month low, with prices finally closing at USD 1,862.5/mt, up USD 8/mt. Market will be attentive to the New Zealand’s interest rate decision for July and US June durable goods orders.

The US dollar index closed at 83.62, and COMEX silver for September delivery closed at USD 27.50/oz.

On Thursday, SHFE lead prices are expected to move between RMB 14,750-14,900/mt, and spot lead prices are expected at RMB 14,850-14,950/mt.
 

Key Words:  lead price   LME lead 

SMM Morning Review - 2012/7/26 Lead Market

Price Review & Forecast 09:13:57AM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – LME lead prices overnight opened at USD 1,855.5/mt and moved down to RMB 1,845/mt during Asian trading session since market sentiment was dented by the deteriorating European debt issues. During European trading hours, as official of the European Central Bank considered to grant the ESM a banking license to help inject liquidity into European countries in the future, LME lead prices rose to USD 1,874/mt but fell later since the US June new home sales hit five-month low, with prices finally closing at USD 1,862.5/mt, up USD 8/mt. Market will be attentive to the New Zealand’s interest rate decision for July and US June durable goods orders.

The US dollar index closed at 83.62, and COMEX silver for September delivery closed at USD 27.50/oz.

On Thursday, SHFE lead prices are expected to move between RMB 14,750-14,900/mt, and spot lead prices are expected at RMB 14,850-14,950/mt.
 

Key Words:  lead price   LME lead