[Pb Price]SMM Lead Market Morning Review (2015-8-4)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Production data
  • Market commentary
  • Macroeconomics
  • Morning comments
  • Futures movement
  • NPI
  • Copper
  • Aluminium
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

[Pb Price]SMM Lead Market Morning Review (2015-8-4)

Price Review & Forecast 09:14:16AM Aug 04, 2015 Source:SMM

SHANGHAI, Aug. 4 (SMM) – Caixin’s PMI for China in July, released Monday evening, fell to a two-year low, triggering bearishness in market. LME lead touched a low of USD 1,672/mt during Asian trading hours. But LME lead rallied during European and US trading hours, to close at USD 1,700.5/mt, up USD 1/mt or 0.06%.  Trading volumes saw a rise of 1,114 to 4,636 lots while positions dropped 1,545 to 128,828. LME lead stocks grew 200 mt to 218,775 mt.

SHFE 1510 lead dived to RMB 12,650/mt for night trading Monday and finally ended down RMB 230/mt at RMB 12,740/mt.

LME lead is likely to range between USD 1,675-1,705/mt on August 4. SHFE 1510 lead should move between RMB 12,680-12,780/mt and RMB 13,050-13,150/mt for spot lead.

 

[Pb Price]SMM Lead Market Morning Review (2015-8-4)

Price Review & Forecast 09:14:16AM Aug 04, 2015 Source:SMM

SHANGHAI, Aug. 4 (SMM) – Caixin’s PMI for China in July, released Monday evening, fell to a two-year low, triggering bearishness in market. LME lead touched a low of USD 1,672/mt during Asian trading hours. But LME lead rallied during European and US trading hours, to close at USD 1,700.5/mt, up USD 1/mt or 0.06%.  Trading volumes saw a rise of 1,114 to 4,636 lots while positions dropped 1,545 to 128,828. LME lead stocks grew 200 mt to 218,775 mt.

SHFE 1510 lead dived to RMB 12,650/mt for night trading Monday and finally ended down RMB 230/mt at RMB 12,740/mt.

LME lead is likely to range between USD 1,675-1,705/mt on August 4. SHFE 1510 lead should move between RMB 12,680-12,780/mt and RMB 13,050-13,150/mt for spot lead.