Metals News
SMM Lead Market Morning Review (2013-6-17)
price review forecast
Jun 17,2013
SHANGHAI, Jun. 17 (SMM) – LME lead prices started last Friday at USD 2,095/mt and edged higher with resistance at the 5-day moving average and strong support at the 30-day moving average. In the US and European trading hours, the University of Michigan Consumer Confidence Index was reported at 82.7 for June, slightly lower than the 84.5 in May, and May’s industrial output held steady from the previous month but was worse than the 0.2% increase expected. IMF kept its 2013 global growth forecast at 1.9%, but slashed 2014 US growth forecast from 3.0% to 2.7%. However, as market focused on Fed’s interest rate policy, equity markets showed no strong response. IMF later expected to Fed will maintain the current asset purchases through the end of 2013, which was in line with investors’ forecast, driving the US dollar index down 0.1%. As such, LME lead prices finally closed at USD 2,114/mt, up USD 22.5/mt or 1.08%. Trading volumes were down 660 lots to 3,878 lots, and positions were up 1,542 lots to 127,000 lots. Settlement price for LME lead was USD 2,107.3/mt.
The US dollar index moved around 80.5 to close at 80.64, and COMEX silver for July delivery fell after initial rises to end at USD 21.95/oz, up USD 0.371/oz or 1.72%.
On Monday, the most active SHFE 1306 lead contract price is expected to move between USD 13,800-13,870/mt, and spot lead prices should be RMB 13,800-13,900/mt.
LME lead price
spot lead price
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data