Lead-SHMET Spot Market Briefing20130716

Date 7/16/2013 2:55:11 PM Source: SHMET

The quotations for Shanghai spot lead are in the range of 13750-13870 rmbs/ton, unchanged from the last trading day. With a contango between 245-125 rmbs/ton. U.S. retail growth in June were not in line with the expectation, and U.S. dollars went stronger against euro and other currencies, flattened the base metal price once again. In addition, the concerns on China economic growth slowed also affect the base metal price. London lead fluctuated and finally closed lower. SHFE lead lower slightly this morning. In short term, the supply would be sufficient in the market. However, the consuming capacity are limited. Overall market sentiment were weak unless the terminal demand were improved.

Edited by SHMET