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

Published: Jul 7, 2015 10:05

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LME lead opened at USD 1,768/mt during Asian trading hours and touched a low of USD 1,730/mt due to fueling Greek debt issue and China’s falling A-shares.

SHANGHAI, Jul.7 (SMM) – LME lead opened at USD 1,768/mt during Asian trading hours and touched a low of USD 1,730/mt due to fueling Greek debt issue and China’s falling A-shares. During European and US trading hours, LME lead regained earlier losses as possibility that Greek will strike a deal with its creditors grows, to end at USD 1,769/mt, up USD 5/mt. Trading volumes rose 2,018 to 4,142 lots and positions increased 532 to 145,948. Stocks for LME lead dropped 425 mt to 171,900 mt.

SHFE 1508 lead started at RMB 12,785/mt during evening session Monday and finished down RMB 65/mt at RMB 12,730/mt with the session low at RMB 12,655/mt.

LME lead is expected to hover between USD 1,740-1,780/mt today. SHFE 1508 lead should move between RMB 12,650-12,800/mt and RMB 13,050-13,200/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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