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SMM Lead Market Morning Review (2013-7-15)
Jul 15,2013 09:45CST
price review forecast
Source:SMM
LME lead prices started last Friday at USD 2,075.8/mt, and dipped to USD 2,050/mt due to the strengthening US dollar.

SHANGHAI, Jul. 15 (SMM) – LME lead prices started last Friday at USD 2,075.8/mt, and dipped to USD 2,050/mt due to the strengthening US dollar. Later, the University of Michigan Consumer Confidence Index was reported at 83.9, below the 84.1 expected but still at high level. Meanwhile, different views of chairman of Federal Reserve Bank of Philadelphia and Federal Reserve Bank of St. Louis on easing policies did not exert great influence on the US dollar. However, as the Fitch cut credit rating for France from “AAA” to “AA+”, the euro slipped but regained the losses later. In this context, LME lead prices finally closed at USD 2,067/mt, down USD 3.8/mt. Trading volumes were down 4,423 lots to 2,871 lots, and positions increased 754 lots. LME lead inventories fell 550 mt to 193,825 mt.

 
The US dollar index closed at 82.94, and COMEX silver for September delivery edged USD 0.071/oz lower to end at USD 19.89/oz. 
 
On Monday, the SHFE 1309 lead contract price is expected to move between RMB 13,840-13,900/mt, while spot lead prices may be RMB 13,650-13,750/mt.
LME lead price
COMEX silver

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