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SMM Lead Market Morning Review (2013-7-17)
Jul 17,2013 09:52CST
price review forecast
Source:SMM
LME lead prices started Tuesday at USD 2,053.5/mt and moved between USD 2,045-2,060/mt during Asian trading hours.

SHANGHAI, Jul. 17 (SMM) – LME lead prices started Tuesday at USD 2,053.5/mt and moved between USD 2,045-2,060/mt during Asian trading hours influenced by Asian stock markets. Later, the Fed reported the US industrial output was up 0.3% in June after seasonal adjustment, the biggest increase in four months. Meanwhile, some investors liquidated positions for US dollar ahead of Ben Bernanke’s testimony before the House Financial Service Panel, giving a boost to LME lead, with prices finally closing at USD 2,075.8/mt. Trading volumes increased 1,029 lots to 3,284 lots, while holdings fell 3,156 lots to some 117,000 lots. LME lead inventories remained unchanged at 193,950 mt.

 
The US dollar index staged a pullback of 0.74% to close at 82.46. COMEX silver for September delivery remained below USD 20/oz to end at USD 19.97/oz. 
 
On July 17, the most active SHFE lead contract price may move between RMB 13,880-13,920/mt, with spot lead price expected to stay at RMB 13,650-13,800/mt.
 
LME lead price
US dollar
COMEX silver

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