SMM Lead Market Morning Review (2015-7-10)

SHANGHAI, Jul. 10 (SMM) – During Asian trading hours, LME lead opened at USD 1,775/mt and tested USD 1,800/mt due to China’s A-shares growth. Greek cash crisis eased during European and US trading hours, sending dollar down and metals prices up. In response, LME lead finally ended up USD 36.5 /mt at USD 1,816/mt. Trading volumes fell 830 to 6,161 lots and positions dropped 662 to 143,718.  LME lead inventories were down 1200 mt to 169900 mt.

SHFE 1509 lead started Thursday evening session at RMB 12,905/mt and closed up RMB 265/mt at RMB 12,960/mt with the high-end price at RMB 13,130/mt.

LME should move between USD 1,810-1,840/mt today. SHFE 1509 lead may hover between RMB 12,900-13,100/mt and RMB 13,150-13,300/mt for spot lead.