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Lead Price Review 2013-9-16
Source:SMM   Editor:Chenxi   Read Number:   Date:2013-9-16 0:00:00  

On London Metal Exchange (LME),   lead price (lead ore) started at USD 2,125/mt last Friday and hovered at the level during Asian trading session for a lack of important reports. In European and US trading hours, however, saw a series of negative news. It was reported that President Obama will nominate Lawrence Summers who backs tighter monetary to succeed Ben Bernanke as Fed’s chairman. As for economic data, the US August retail sales grew 0.2%, flat with July’s level but falling short of the 0.5% expected, while the University of Michigan Consumer Confidence Index fell to a 5-month low in September. Thus, LME lead kept falling to a low of USD 2,074/mt and finally ended at USD 2,085.5/mt, a decline of nearly 2%. Traded volumes increased by 1,197 lots to 6,622 lots, and positions were up 649 lots to 114549 lots. LME lead stocks soared 49,475 mt to 231,675 mt, with those at warehouse of Vlissingen, Holland, up as much as 49,950 mt.

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