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

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.