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

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

Price Review & Forecast 09:12:02AM Aug 19, 2015 Source:SMM

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.

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

Price Review & Forecast 09:12:02AM Aug 19, 2015 Source:SMM

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.