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SMM Lead Market Morning Review (2013-7-23)
Jul 23,2013 09:57CST
price review forecast
Source:SMM
LME lead prices dipped to a low of USD 2,032/mt after opening at USD 2,046.3/mt Monday.

SHANGHAI, Jul. 23 (SMM) – LME lead prices dipped to a low of USD 2,032/mt after opening at USD 2,046.3/mt Monday. Later, the Chicago Fed National Activity Index for June was reported at -0.13, lower than expected, albeit higher than May’s level. The US existing home sales for June also fell 1.2%, well below the 4.2% increase in May and the 1.4% growth expected. The negative news drove the US dollar to fall below moving averages, while other currencies continued to rally. As such, LME lead prices rebounded to end at USD 2,055.3/mt, up USD 12.8/mt from last Friday. Trading volumes were down 403 lots to 2,930 lots, while positions dropped 434 lots.

 
The US dollar index closed at 82.23. COMEX silver for September delivery rose sharply to return above USD 20/oz and finally closed at USD 20.5/oz, up USD 1.09/oz or 5.62%.
 
On Tuesday, the SHFE 1309 lead contract price may move at USD 13,860-13,900/mt, with spot lead prices expected to be RMB 13,650-13,800/mt. 
 
LME lead price
COMEX silver
US dollar

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