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[Pb] SMM Morning Review - 2009/12/1 Lead Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Dec. 1 (SMM) -- Market concerns over Dubai crisis eased, and LME lead prices received support at USD 2,320/mt again. LME lead prices will not likely drop below USD 2,300/mt even if LME lead inventories continue to grow, as the optimistic sentiment was strong in other commodities markets.
On Monday, the US dollar edged down against euro, and investors controlled risk-preference before the US and European countries announced the interest rate, so the US dollar index closed at 74.788. On COMEX market, gold futures for February delivery increased by USD 6.8/oz to USD 1,182.3/oz, while silver futures for March delivery increased by Cents 19/oz to USD 18.525/oz.
SMM predicts domestic lead prices will be around RMB 16,000/mt today.
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