[Pb Price]SMM Lead Market Morning Review (2015-8-10)

Published: Aug 10, 2015 09:28 (GMT+8)

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LME lead opened lower at USD 1,701/mt during last Friday evening session.

SHANGHAI, Aug. 10 (SMM) – LME lead opened lower at USD 1,701/mt during last Friday evening session and depressed to a low of USD 1,868/mt by concerns over US non-farm payrolls number. Then the released US non-farm payrolls number increased 215,000, below previous 223,000, pushing dollar down. LME lead grew to USD 1,730/mt before ending at USD 1,720.5/mt, rising USD 15/mt. Trading volumes upped 1,063 to 4,552 lots while positions decreased 274 to 126,003. LME lead stocks dropped 2,725 mt to 210,075 mt.

SHFE 1510 lead started at RMB 12,765/mt for night trading Friday and touched a low of RMB 12,725/mt. Later, the price soared to RMB 12,900/mt and closed at RMB 12,850/mt, rising RMB 35/mt with shorts closing positions.

LME lead should narrowly move between USD 1,700-1,730/mt today. SHFE 1510 lead may hover between RMB 12,780-12,900/mt and RMB 13,100-13,250/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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