SHANGHAI, Dec. 9 (CBI China) -- LME Marke
Close (USD/mt) Premium/Discount Vol (lot) Position (lot) Inventory (mt) 3-mth Contract Spot – 3 mth Nov. Average 1,298 -8.5 21,400 75,827 41,600 Dec. 8th 1,000 -10.5 14,748 75,138 43,475
Spot – 3 mth
LME copper rose about 11% on Monday, leading base metals higher, propelled by soft U.S. dollar and strong incentives of short-covering triggered by the strengthened stock market, also affected by news that elected president of the United States Obama plans to make a large-scale investment in infrastructure projects, in addition good performance of China metal on Monday also boost the market. SHFE lead enquiry increased in the afternoon, mainly were not long-term customers or non-bulk procurement due to limited resources in flow market, trading at RMB 8800/mt and below was rare, with high offer RMB 9200/mt. Lead price is likely to raise in terms of current situation of supply and demand.
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