Home / Metal News / Aluminium / SMM Lead Market Morning Review (2013-2-22)
SMM Lead Market Morning Review (2013-2-22)
Feb 22,2013 09:35CST
price review forecast
Source:SMM
LME lead prices fell to USD 2,300/mt after opening at USD 2,347/mt and finally closed at USD 2,324.5/mt.

SHANGHAI, Feb. 22 (SMM) – On Thursday, the US initial jobless claims increased 21,000, and the Philadelphia Fed manufacturing index deteriorated to -12.5 in February, combined with the remark about reducing asset purchases by the Fed’s officials, the US dollar index rebounded to hit a high of 81.5, driving LME lead prices to fall to USD 2,300/mt after opening at USD 2,347/mt and finally closed at USD 2,324.5/mt. Trading volumes were up 3,837 lots to 9,420 lots, and positions fell 693 lots.

The US dollar index ended at 81.36, and COMEX silver for March delivery stabilized to close at USD 28.7/oz.

On February 22, SHFE 1304 lead contract price should open lower to move between RMB 14,980-15,150/mt, with spot lead prices in China expected to remain at RMB 14,700-14,850/mt.
 

LME lead prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news