• Weekly Forecast by SMM Specialist

• Last update: August, 25, 2008

• Rallying 5
• Constant 0
• Falling 33

(Aug.27) Lead inventories monitored by London Metal Exchange lost 1,625 tonnes, which supported the price. Lead closed at 1,860 usd, eased by 15 usd.

Shanghai lead market became worse. SMM lead declined by 500 yuan to 18,100-18,300, while the actual trading price went to lower than 18,000 yuan, most in the range 17,700-17,800 yuan. As some small scale smelting factories wanted to solve cash problems, they sold at low price level, purchasing quantity increased. The market will test 17,000 yuan price level in short run.

(Aug.26) SMM lead price declined by 400 yuan to 18,600-18,800 yuan, while the actual trading price fell almost 500 yuan to 18,300-18,400 yuan. Consumers still waited. Some smelting factories began to sell actively in order to ease the stock pressure and financing problems. Lead indicated a down trend.

(Aug.25) Lead inventories monitored by London Metal Exchange lost 3,325 tonnes, which pushed the price to 1,932 usd, the highest since August 11. However, as dollars traded stronger and profit-taking by speculators, lead closed at 1,877 usd, declining by 35 usd.

Shanghai lead market became worse. From last Friday, it was the second day that trading at 100-200 discount. Price broke 19,000 yuan. Suppliers began to sell actively, but buyers still waited. The whole market presented a sharp down trend.

• 
• 

• Shanghai Spot Price Chart(Last Two Years)

  (Member Only)
  Please sign in before view!