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[Pb] SMM Morning Review - 2009/11/25 Lead Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Nov. 25 (SMM) -- Base metal markets were plagued by falling global stock markets, and the US’s revising down the previously-announced figures. LME lead prices dropped slightly to hold at USD 2,350/mt, an indication of support from investment funds, as markets had neglected fundamentals.
In neighboring markets, the US dollar hit a 6-week low against yen, as investors were unwilling to face risks before the upcoming Thanksgiving Days in view of unfavorable data from the US. The US dollar index closed at 75.124. Gold futures for December delivery on the COMEX remained on an upward track, up 1.1 dollar to end at USD 1,165.8 per ounce. Silver futures for December delivery finished off 15.5 cents to USD 18.455 per ounce.
SMM predicts domestic lead prices will trade around RMB 16,000/mt.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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