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SMM Lead Market Morning Review (2013-11-5)
Nov 5,2013 09:17CST
price review forecast
Source:SMM
LME lead prices started at USD 2,183/mt during Asian trading hours Monday and moved around USD 2,180/mt.

SHANGHAI, Nov. 5 (SMM) – LME lead prices started at USD 2,183/mt during Asian trading hours Monday and moved around USD 2,180/mt. In the European and US trading hours, the euro zone PMI was reported at 51.3, staying above 50 for a fourth month straight, and the US factory orders were also positive. However, market gave these data a lukewarm reaction and remained under the influence of QE tapering. LME lead prices extended losses in response, and dipped to a low of USD 2,150/mt before finally closing at USD 2,166/mt, down USD 17/mt. The prices in European trading session will continue to be weaker than those in Asian trading hours Tuesday. Traded volumes were down 774 lots to 4,389 lots, while positions dropped by 149 lots to 124,317 lots.

 
The US dollar index met resistance at the 60-day moving average, and closed 0.2% lower at 80.55. COMEX silver for December delivery closed at USD 21.65/oz, down USD 0.192/oz. 
 
On Tuesday, SHFE 1312 lead contract prices are expected to be RMB 14,250-14,350/mt, with spot lead prices in China at RMB 14,250-14,350/mt.
 
LME lead prices

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