Metals News
[Pb] CBI Morning Review - 2008/12/11 Lead Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 11 (CBI China) -- LME Market

 

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. 10th

1008

-10.5

17,382

75,101

43,825

Summary

LME sentiment improved slightly on Wednesday due to significant progress in the bailout plan in U.S. auto industry. LME lead increased to USD 1000, with slight increase in total volume and in short-covering sentiment. SHFE lead speeds up increasing to RMB 10,000/mt, the production output in the coming week has been scheduled, prices were RMB 9800-9900/mt with the exception of early trading at around RMB 9700/mt, in the afternoon prices were RMB 10,100/mt, with tight market supply.


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