SMM Lead Market Morning Review (2013-7-11)

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.