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[Pb] SMM Morning Review - 2009/12/2 Lead Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Dec. 2 (SMM) -- The investor risk preference in early December helped push up LME lead prices to USD 2,400/mt, with a gain of nearly 5%. LME lead prices have risen to above 20-day moving average line of USD 2,340/mt.
The US dollar plunged against most currencies, as market concerns over Dubai debt crisis eased. However, the US dollar against Japanese yen climbed, since Bank of Japan held an interim meeting unexpectedly. The US dollar index closed at 74.426. On COMEX market, gold futures for February delivery increased by USD 17.9/oz to USD 1,200.2/oz, while silver futures for March delivery increased by Cents 68.5/oz to USD 19.21/oz.
SMM predicts domestic lead prices will be around RMB 16,100/mt today.
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