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SMM Lead Market Morning Review (2013-7-10)
Jul 10,2013 09:41CST
price review forecast
Source:SMM
LME lead prices started at USD 2,068/mt Tuesday and remained under resistance during Asian trading hours due to the weak CPI and PPI data for China.

SHANGHAI, Jul. 10 (SMM) – LME lead prices started at USD 2,068/mt Tuesday and remained under resistance during Asian trading hours due to the weak CPI and PPI data for China. Later, the UK industrial output and trade account were both reported worse than expected, while S&P cut rating for Italy from BBB+ to BBB, driving the euro to hit a four month low. The US dollar climbed to a three-year high of 84.75. LME lead prices thus dipped as low as USD 2,023.5/mt before closing at USD 2,041/mt, down USD 32.8/mt or 1.58%. Trading volumes increased 1,983 lots to 5,023 lots, while positions were up 305 lots. LME lead inventories fell 200 mt to 195,975 mt.

The US dollar index closed at 84.63, and COMEX silver for September delivery ended at USD 19.21/oz, with resistance at the 5 and 10-day moving averages.
 
On July 10, the most active SHFE 1309 lead contract price may open lower to move between RMB 13,840-13,880/mt, with spot lead prices expected to remain at RMB 13,650-13,750/mt. 
 
LME lead price
COMEX silver
US dollar

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