SMM Lead Market Morning Review (2013-4-11)

SHANGHAI, Apr. 11 (SMM) – LME lead prices opened at USD 2,088/mt overnight and touched a high of USD 2,113/mt, as US equities staged strong trends amid positive expectation for financial reports. Later, there was little new for the Fed’s interest rate decision, but some officials noted it would be property to terminate the asset purchasing program before the end of the year. The US dollar index increased, driving LME lead prices to fall to close at USD 2,094/mt. Trading volumes were up 145 lots to 3,653 lots, and positions increased 565 lots. LME lead inventories fell 150 mt to 260,250 mt.

The US dollar index hovered around 82.5 to end at 82.48, while COMEX silver for May delivery closed USD 0.21/oz lower at USD 27.6/oz.

On April 11, SHFE 1306 lead contract price may move between RMB 14,440-14,540/mt, and spot lead prices are expected at RMB 14,250-14,350/mt.