SMM Lead Market Morning Review (2013-4-16)-Shanghai Metals Market

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SMM Lead Market Morning Review (2013-4-16)

Price Review & Forecast 09:58:01AM Apr 16, 2013 Source:SMM

SHANGHAI, Apr. 16 (SMM) – LME lead prices continued falling on Monday after opening at USD 2,042/mt. In Asian trading hours, the lower-than-expected China 1Q GDP growth drove LME lead to fall below USD 2,000/mt and hit a low of USD 1,990.3/mt. Although the Empire State Manufacturing Index for April was reported lower than forecast, buying support helped LME lead move up and close at USD 2,041.5/mt. Trading volumes were up 2,968 lots to 7,233 lots, while positions were up 1,048 lots to around 116,000 lots. LME lead inventories fell 350 mt to 259,025 mt.

The US dollar index moved around 82 to end at 82.38, while the COMEX silver for May delivery fell USD 0.5/oz to USD 22.67/oz, a loss of 2.2%.

On Tuesday, the SHFE 1306 lead contract price is expected move around RMB 14,000/mt, while spot lead prices may be RMB 13,950-14,050/mt.
 

Key Words:  LME lead price 

SMM Lead Market Morning Review (2013-4-16)

Price Review & Forecast 09:58:01AM Apr 16, 2013 Source:SMM

SHANGHAI, Apr. 16 (SMM) – LME lead prices continued falling on Monday after opening at USD 2,042/mt. In Asian trading hours, the lower-than-expected China 1Q GDP growth drove LME lead to fall below USD 2,000/mt and hit a low of USD 1,990.3/mt. Although the Empire State Manufacturing Index for April was reported lower than forecast, buying support helped LME lead move up and close at USD 2,041.5/mt. Trading volumes were up 2,968 lots to 7,233 lots, while positions were up 1,048 lots to around 116,000 lots. LME lead inventories fell 350 mt to 259,025 mt.

The US dollar index moved around 82 to end at 82.38, while the COMEX silver for May delivery fell USD 0.5/oz to USD 22.67/oz, a loss of 2.2%.

On Tuesday, the SHFE 1306 lead contract price is expected move around RMB 14,000/mt, while spot lead prices may be RMB 13,950-14,050/mt.
 

Key Words:  LME lead price