[Pb Price]SMM Lead Market Morning Review (2015-7-27)

Published: Jul 27, 2015 09:45

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During last Friday evening session, LME lead started at USD 1,731.5/mt.

SHANGHAI, Jul. 27 (SMM) – During last Friday evening session, LME lead started at USD 1,731.5/mt. China’s PMI issued Monday morning hit a 15-year low and growth in China’s total power consumption in H1 2015 hit a 35-year low. LME lead moved between USD 1,720-1,730/mt during Asian trading hours and dipped to USD 1,700/mt during European and US trading hours. LME lead later railed as support emerged, to end at USD 1,722.5/mt, falling USD 8.5/mt. Trading volumes rose 721 to 4,633 lots. Positions were up 2,461 to 130,853. LME lead inventories posted a decline of 1,850 mt to 211,725 mt.

SHFE 1510 lead was slow to drop versus LME lead, pushing SMM/LME lead price ratio up to 7.38. SHFE 1510 lead reached RMB 12,725/mt after opening last Friday evening session at RMB 12,600/mt, to close at RMB 12,690/mt, up RMB 35/mt.

LME lead should be move between USD 1,700-1,730/mt today. SHFE 1510 will hover between RMB 12,630-12,760/mt and RMB 13,050-13,200/mt for spot lead.

LME lead price forecast SHFE lead prices Pb Price

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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