Metals News
[Pb] SMM Morning Review - 2009/10/28 Lead Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Oct. 28 (SMM) -- The negative US consumer confidence index dampened the risk preference by investors, but base metal prices dropped at a slower pace on LME market, and LME lead prices stood firm at USD 2,280/mt, with no marked changed in both positions and trading volumes. Today, key economic data will be released gradually, which will deliver a clear direction for LME lead prices.

    The US stocks closed up 14.21 points due to profit-takings by investors; the euro against US dollar dropped by 0.5% to 1.4794; COMEX gold for December delivery closed at USD 1035.4/oz, down USD 7.4/oz, and silver for December delivery closed at USD 16.54/oz, down Cents 55.5/oz. NYMEX crude oil prices closed up, and crude oil for December delivery closed at USD 79.55/brarrel, up USD 0.87/barrel.  

    Domestic spot lead prices are expected to be around RMB 15,800/mt today.

 

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