SMM Lead Market Morning Review (2015-8-19)

Published: Aug 19, 2015 09:12

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LME moved higher to USD 1,735/mt after opening Tuesday evening session at USD 1,725/mt.

SHANGHAI, Aug. 19 (SMM) – LME moved higher to USD 1,735/mt after opening Tuesday evening session at USD 1,725/mt. However, China’s A-shares fell to a three-week low by 6%, triggering panic again in market. Besides, both LME copper and aluminum touched a six-year low. US dollar posted a growth. LME lead was thus depressed and finally ended at USD 1,684.5/mt, down by USD 36/mt or 2.09%. Trading volumes saw a rise of 708 to 3,191 lots while positions dropped 484 to 128,551.

For night trading Tuesday, SHFE 1510 lead started at RMB 13,160/mt and once touched a low of RMB 13,025/mt, to close down RMB 210/mt at RMB 13,105/mt. Trading volumes declined 3,692 to 2,336 lots and positions slipped 334 to 17,816.

LME lead is predicted to fluctuate between USD 1,680-1,715/mt on Aug. 19. SHFE 1510 lead is likely to range between RMB 13,000-13,150/mt. Chinese spot lead should fall RMB 75/mt to RMB 13,200-13,300/mt.

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

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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