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[Pb] SMM Morning Review - 2009/10/21 Lead Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Oct. 21 (SMM) -- LME lead prices failed to surge to USD 2,350/mt on Tuesday, and the trading volume increased to 25,000 lots, but total positions continued to decline. LME lead prices will fluctuate around USD 2,300/mt in the short term.
The US stocks dropped on Tuesday, as the negative impact from unfavorable US economic data offset the positive impact from strong earnings of Apple and Caterpiller companies; the US dollar advanced slightly; COMEX gold for December delivery closed at USD 1058.6/oz, up USD 0.5/oz, and silver for December delivery closed at USD 17.558/oz, down Cents 6.7/oz. The US crude oil for November delivery closed at USD 79.09/brarrel, down USD 0.52/barrel.
Lead prices are expected to move in the RMB 15,650-15,700/mt range in domestic spot market.
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