SMM Lead Market Morning Review (2015-7-6)

Published: Jul 6, 2015 09:42

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Last Friday, LME lead started at USD 1,780.5/mt during Asian trading hours and moved narrowly between USD 1,773-1,787/mt.

SHANGHAI, Jul. 6 (SMM) – Last Friday, LME lead started at USD 1,780.5/mt during Asian trading hours and moved narrowly between USD 1,773-1,787/mt. During European trading hours, worries about Greek referendum grew and shorts entered market. Thus, LME lead dipped to USD 1,762/mt and ended at USD 1,764/mt, down USD 19/mt. Trading volumes fell 862 to 2,124 lots while positions rose 3,171 to 145,416. LME lead inventories dropped 400 mt to 172,325 mt.

SHFE 1508 lead opened at RMB 12,895/mt during last Friday evening session and dived to RMB 12,780/mt with shorts gathering strength, to close down RMB 160/mt at RMB 12,860/mt.

LME lead may move between USD 1,750-1,780/mt today. SHFE 1508 lead should be in a range of RMB 12,780-12,900/mt and RMB 13,150-13,250/mt for spot lead.

SHFE lead prices LME lead price forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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