SMM Lead Market Morning Review (2013-1-22)-Shanghai Metals Market

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SMM Lead Market Morning Review (2013-1-22)

Price Review & Forecast 09:32:01AM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) – The US equity markets were off on Monday for the Martin Luther King, Jr. Day, and no important news was released overnight. The first meeting of eurozone finance ministers this year concerning to ESM and bank recapitalization reported no substantial progress. Therefore, LME lead prices hovered around USD 2,300/nt after starting at USD 2,307/mt, and finally closed at USD 2,296.3/mt, down USD 11.3/mt. Trading volumes for LME lead fell 3,390 lots, while positions increased 924 lots. LME lead inventories were down 1,550 to 294,500 mt.

The US dollar index closed at 80.05, and COMEX silver for March delivery ended at USD 32.04/oz, up USD 0.2/oz.

On January 22, the most active SHFE lead contract price is expected to move between RMB 15,150-15,250/mt, and spot lead prices in China are expected at RMB 14,650-14,800/mt.

 

SMM Lead Market Morning Review (2013-1-22)

Price Review & Forecast 09:32:01AM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) – The US equity markets were off on Monday for the Martin Luther King, Jr. Day, and no important news was released overnight. The first meeting of eurozone finance ministers this year concerning to ESM and bank recapitalization reported no substantial progress. Therefore, LME lead prices hovered around USD 2,300/nt after starting at USD 2,307/mt, and finally closed at USD 2,296.3/mt, down USD 11.3/mt. Trading volumes for LME lead fell 3,390 lots, while positions increased 924 lots. LME lead inventories were down 1,550 to 294,500 mt.

The US dollar index closed at 80.05, and COMEX silver for March delivery ended at USD 32.04/oz, up USD 0.2/oz.

On January 22, the most active SHFE lead contract price is expected to move between RMB 15,150-15,250/mt, and spot lead prices in China are expected at RMB 14,650-14,800/mt.