SMM Lead Market Morning Review (2015-8-18)

Published: Aug 18, 2015 10:11 (GMT+8)

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LME lead advanced to USD 1,754/mt after opening Asian trading hours at USD 1,747.5/mt.

SHANGHAI, Aug. 18 (SMM) – LME lead advanced to USD 1,754/mt after opening Asian trading hours at USD 1,747.5/mt. But LME lead dipped to USD 1,720.5/mt during European and US trading hours with dollar going up further, to close at a low of USD 1,720.5/mt, down by USD 32/mt. Trading volumes were up 174 to 2,438 lots and positions grew 368 to 129,035.

SHFE 1510 lead opened Monday evening with a negative gap at RMB 13,310/mt and fell back after touching RMB 13,370/mt, to end at RMB 13,320/mt, up RMB 40/mt. Longs reduced for SHFE 1509 lead and shorts grew for SHFE 1510 lead, boding ill for lead prices.

Markets expect LME lead to narrowly move between USD 1,720-1,760/mt on Aug. 18. SJHFE 1510 lead may fall to RMB 13, 250-13,380/mt and RMB 13,250-13,400/mt for spot lead.

LME lead price forecast SHFE lead prices forecast spot lead price forecast Pb prices

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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