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[Pb] SMM Morning Review - 2009/11/6 Lead Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Nov. 6 (SMM) -- LME lead prices found solid support at USD 2,300/mt, with limited impact from the discussion of interest rate by two central banks in Europe. Market players were concerned about current strong impact from the US dollar on metal prices. Total positions continued to grow slightly, and LME lead prices received support at USD 2,290/mt technically.
The currency market remained neutral, and investors were waiting for the release of the employment data in the US despite of increasing US stock markets, and the US dollar index closed at 75.727. COMEX silver for December delivery closed at USD 17.41/oz, up Cents 0.5/oz.
Domestic spot lead prices are expected to move around RMB 15,600/mt today.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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