SMM Lead Market Morning Review (2013-6-25)

SHANGHAI, Jun. 25 (SMM) – LME lead prices started Monday at USD 2,026/mt, and fell to USD 1,987/mt as Asian stock markets slipped across the board and as the Greece’s Left Party pulled out of the ruling coalition government which dragged down the euro. Later, Fed’s officials defend for the termination of QE, noting that investors should not overreact to the scale-back of QE. The US dollar index then fell after rising initially, leading LME lead prices to stabilize and close at USD 2,005/mt, down USD 22.5/mt or 1.11%. Trading volumes were down 419 lots to 4,825 lots, and positions were down 245 lots, LME lead inventories fell 3,150 mt to 195,875 mt.

 

The US dollar closed at 82.4. COMEX silver for July delivery dropped USD 0.459/oz or 2.3% to USD 19.5/oz.

 

On June 25, SHFE 1309 lead contract price is expected to move between RMB 13,900-13,980/mt, and spot lead prices will be RMB 13,700-13,800/mt.