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SMM Morning Review - 2010/1/7 Lead Market
Jan 7,2010 10:41CST
smm insight
Source:SMM

SHANGHAI, Jan. 7 (SMM) -- LME lead prices finished higher on January 6th, with prices ever hitting a 16-month high on the day, and with closing prices reported at USD 2,635/mt. Market players expect lead demand will improve further following sustained recovery in the economy. Prices of base metals tracked upward along with a stronger global manufacturing data, better-than-expected auto sales for December in the US, as well as stable market investment at the begging of 2010.

LME lead inventories on January 6th were up 675 mt to 147,850 mt, restricting price rising room. SMM believes LME lead prices will continue to advance in the short term.

 

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