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SMM Lead Market Morning Review (2013-3-14)
Mar 14,2013 09:40CST
price review forecast
Source:SMM
LME lead prices kept vacillating during Asian trading hours after opening at USD 2,230/mt overnight.

SHANGHAI, Mar. 14 (SMM) – LME lead prices kept vacillating during Asian trading hours after opening at USD 2,230/mt overnight. Later, the euro zone January industrial production fell sharply, depressing market sentiment, but the US retail sales were up noticeably, pushing the US equities up and easing market concerns. As a result, LME lead prices rose to USD 2,260/mt but edged down at the tail of trading to finally end at USD 2,249.8/mt as the US dollar hit 83, up USD 23.3/mt from the previous trading day. Trading volumes were up 1,113 lots to 5,853 lots, and positions were fell 160 lots. LME lead inventories fell 1,900 mt to 281,400 mt.

The US dollar index hit a seven month high of 83, while COMEX silver for May delivery ended at USD 29 /oz, edging down USD 0.2/oz.

On March 14, SHFE 1305 lead contract price should move between RMB 14,650-14,800/mt, with spot lead prices in China expected at RMB 14,550-14,650/mt.

 

LME lead prices

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