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SMM Lead Market Morning Review (2013-7-5)
Jul 5,2013 09:12CST
price review forecast
Source:SMM
LME lead prices hovered between USD 2,070-2,085/mt after opening at USD 2,075/mt during Asian trading hours Thursday.

SHANGHAI, Jul. 5 (SMM) – LME lead prices hovered between USD 2,070-2,085/mt after opening at USD 2,075/mt during Asian trading hours Thursday. The US trading market was closed for Independent Day. In European trading session, the European Central Bank and Bank of England both maintained their interest rate policies unchanged with easing measures continued. The euro fell sharply while US dollar headed towards 84. But LME lead prices only inched lower with strong support at the 60-day moving average and market staying cautious before the release of the US nonfarm payrolls. Hence, LME lead prices eventually ended at USD 2,068/mt, down USD 15.5/mt. Trading volumes dropped 2,799 lots to 1,743 lots, and positions fell 922 lots to 118,000 lots.

 
The US dollar index touched at high of 83.9 before closing at 83.75, and COMEX silver for September delivery closed at USD 19.53/oz, down USD 0.175/oz.
 
On Thursday, the most active SHFE 1309 lead contract price is expected to move between RMB 13,920-13,960/mt, and spot lead prices may be RMB 13,700-13,800/mt. 
 
LME lead price
COMEX silver

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