SMM Lead Market Morning Review (2013-4-9)-Shanghai Metals Market

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SMM Lead Market Morning Review (2013-4-9)

Price Review & Forecast 09:35:20AM Apr 09, 2013 Source:SMM

SHANGHAI, Apr. 9 (SMM) – LME lead prices began at USD 2,055/mt Monday. The US dollar fell back as disappointing employment data added to market expectations that the Fed will maintain easing policies, driving LME lead prices to climb to USD 2,072/mt before closing at USD 2,062.5/mt. Trading volumes were down 220 lots to 3,072 lots, while positions were down 572 lots. LME lead inventories increased 150 mt to 260,550 mt.

The US dollar index closed at 82.6, and COMEX silver for May delivery closed at USD 27.1/oz with strong support at the 5-day moving average.

On April 9, the SHFE 1306 lead contract price is expected to move between RMB 14,350-14,450/mt, and spot lead prices in China will be RMB 14,150-14,250/mt.

 

SMM Lead Market Morning Review (2013-4-9)

Price Review & Forecast 09:35:20AM Apr 09, 2013 Source:SMM

SHANGHAI, Apr. 9 (SMM) – LME lead prices began at USD 2,055/mt Monday. The US dollar fell back as disappointing employment data added to market expectations that the Fed will maintain easing policies, driving LME lead prices to climb to USD 2,072/mt before closing at USD 2,062.5/mt. Trading volumes were down 220 lots to 3,072 lots, while positions were down 572 lots. LME lead inventories increased 150 mt to 260,550 mt.

The US dollar index closed at 82.6, and COMEX silver for May delivery closed at USD 27.1/oz with strong support at the 5-day moving average.

On April 9, the SHFE 1306 lead contract price is expected to move between RMB 14,350-14,450/mt, and spot lead prices in China will be RMB 14,150-14,250/mt.