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SMM Lead Market Morning Review (2013-7-11)
Jul 11,2013 10:34CST
price review forecast
Source:SMM
LME lead prices opened at USD 2,040/mt in Asian trading hours Wednesday and fell to USD 2,023/mt due to weak Chinese foreign trade figures.

SHANGHAI, Jul. 11 (SMM) – LME lead prices opened at USD 2,040/mt in Asian trading hours Wednesday and fell to USD 2,023/mt due to weak Chinese foreign trade figures. Later, the Shanghai Composite Index returned to 2,000, and the FOMC minutes and Bernanke’s remark seemed to indicate that the Fed will maintain the easing policy unless employment shows further improvements, easing market concerns. In response, the US dollar fell 1.35% while the euro staged a rebound, LME lead also rallied to close at USD 2,071.3/mt, up USD 30.3/mt or 1.48%. Trading volumes declined 1,292 lots to 3,731 lots, while positions fell 730 lots.

The US dollar index closed at 83.5, and COMEX silver for September delivery ended at USD 19.41/oz, up USD 0.205/oz or 1.07%, but resistance at the 20-day moving average remained strong.
 
On Thursday, the SHFE 1309 lead contract price is expected to start higher to move at RMB 13,900-13,980/mt, and spot lead prices may increase to RMB 13,650-13,800/mt.
 
LME lead price
COMEX silver

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