SMM Lead Market Morning Review (2013-1-7)-Shanghai Metals Market

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SMM Lead Market Morning Review (2013-1-7)

Price Review & Forecast 08:58:55AM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – LME lead prices opened at USD 2,378/mt last Friday. The US nonfarm payrolls for December were only up 155,000, disappointing most investors, while the minutes released by the Fed showed the intention of terminating easing policies, triggering investor concerns on tight liquidity. As such, market players became cautious, driving LME lead prices to fall to close at USD 2,342.5/mt, down USD 51.3/mt. Trading volumes were down 2,276 lots to 6,626 lots, while positions were up 284 lots to around 141,000 lots.

The US dollar index closed at 80.44, and COMEX silver for March delivery closed at USD 29.95/oz, down USD 0.2/oz.

On January 7, the most active SHFE lead contract price is expected to start lower and move between RMB 15,200-15,300/mt, and spot lead prices in China should be RMB 14,700-14,800/mt.
 

Price

more
Aluminum Ingot
Oct.18
14000.0
40.0
(0.29%)
Aluminum Ingot - Fo Shan
Oct.18
13960.0
30.0
(0.22%)
Aluminum Ingot - Wu Xi
Oct.18
14000.0
20.0
(0.14%)
Aluminum Ingot - Hang Zhou
Oct.18
14040.0
55.0
(0.39%)
Aluminum Ingot - Chong Qing
Oct.18
13980.0
60.0
(0.43%)

SMM Lead Market Morning Review (2013-1-7)

Price Review & Forecast 08:58:55AM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – LME lead prices opened at USD 2,378/mt last Friday. The US nonfarm payrolls for December were only up 155,000, disappointing most investors, while the minutes released by the Fed showed the intention of terminating easing policies, triggering investor concerns on tight liquidity. As such, market players became cautious, driving LME lead prices to fall to close at USD 2,342.5/mt, down USD 51.3/mt. Trading volumes were down 2,276 lots to 6,626 lots, while positions were up 284 lots to around 141,000 lots.

The US dollar index closed at 80.44, and COMEX silver for March delivery closed at USD 29.95/oz, down USD 0.2/oz.

On January 7, the most active SHFE lead contract price is expected to start lower and move between RMB 15,200-15,300/mt, and spot lead prices in China should be RMB 14,700-14,800/mt.