[Pb] CBI Morning Review - 2008/12/9 Lead Market-Shanghai Metals Market

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[Pb] CBI Morning Review - 2008/12/9 Lead Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

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

Summary   

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.

 
Copyright © 2008, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: steelresearch@cbichina.com or tel:86-21-51550040

[Pb] CBI Morning Review - 2008/12/9 Lead Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

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

Summary   

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.

 
Copyright © 2008, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: steelresearch@cbichina.com or tel:86-21-51550040