SMM Morning Review - 2009/12/23 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2009/12/23 Lead Market

SMM Insight 11:04:29AM Dec 23, 2009 Source:SMM

SHANGHAI, Dec. 23 (SMM) -- LME lead market should hardly show strong performance before the Christmas holiday, even if no less-than-expected economic data from the US is available. LME lead prices moved lower to test the 60-day moving average, and the fluctuation of USD 30/mt around USD 2,300/mt is expected to continue.

In neighboring markets, the US dollar continued to rally against most currencies, as buying interest was stimulated by investor optimistic view towards the US economy. The US dollar was 78.264. Gold prices on the COMEX hit the lowest level since November 3rd, and gold futures for February delivery closed down USD 9.3 at USD 1,086.7 per ounce. Silver futures for March delivery ended at USD 17.03 per ounce, down cents 0.5.

Domestic lead market is believed to trade around RMB 15,450/mt on Wednesday.

 

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None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Morning Review - 2009/12/23 Lead Market

SMM Insight 11:04:29AM Dec 23, 2009 Source:SMM

SHANGHAI, Dec. 23 (SMM) -- LME lead market should hardly show strong performance before the Christmas holiday, even if no less-than-expected economic data from the US is available. LME lead prices moved lower to test the 60-day moving average, and the fluctuation of USD 30/mt around USD 2,300/mt is expected to continue.

In neighboring markets, the US dollar continued to rally against most currencies, as buying interest was stimulated by investor optimistic view towards the US economy. The US dollar was 78.264. Gold prices on the COMEX hit the lowest level since November 3rd, and gold futures for February delivery closed down USD 9.3 at USD 1,086.7 per ounce. Silver futures for March delivery ended at USD 17.03 per ounce, down cents 0.5.

Domestic lead market is believed to trade around RMB 15,450/mt on Wednesday.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn