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SMM Lead Market Morning Review (2013-7-2)
Jul 2,2013 09:12CST
price review forecast
Source:SMM
LME lead prices continued to rise after opening at USD 2,053.5/mt on Monday.

SHANGHAI, Jul. 2 (SMM) – LME lead prices continued to rise after opening at USD 2,053.5/mt on Monday. Although stocks in Asia-Pacific region turned out mixed, the fallback in US dollar offered some support to lead prices. Later, economic data in the US and Europe were reported positive. The US June ISM manufacturing index rose to 50.9, exceeding the 50.1 expected, while Germany’s PMI remained stable. Euro zone PMI was 48.8 in June, also above the 48.7 expected. Market concerns were improved significantly, with the US dollar weighed down and the euro staging rebound. The US equities also went up, driving LME lead prices to rise to USD 2,092.3/mt and close at USD 2,089/mt, up USD 34/mt or 1.65%. Trading volumes fell 819 lots to 4,279 lots, and positions dropped 630 lots to 120,000 lots.

 
The US dollar index fell to 83, and COMEX silver for September delivery closed at USD 19.5/oz.
 
SHFE 1309 lead contract price may move between RMB 13,915-13,975/mt on Tuesday, with spot lead prices expected at RMB 13,700-13,800/mt.
 
LME lead price

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