SMM Daily Review - 2010/1/7 Lead Market -Shanghai Metals Market

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SMM Daily Review - 2010/1/7 Lead Market

SMM Insight 10:49:04AM Jan 08, 2010 Source:SMM

SHANGHAI, Jan. 8 (SMM) -- Domestic lead market sentiment eventually improved along rising LME lead prices and strong performance of other base metals in domestic markets. In this context, SMM raised prices by RMB 500/mt to RMB 16,750-17,050/mt. Offers of well-known branded products were above RMB 17,000/mt, with limited supply. Prices of unknown products were nearer RMB 16,750/mt. However, downstream producers reported no brisk buying interest due to rapid price gains, especially in the afternoon trade when overall base metal markets plunged, with few transactions.

SMM believes domestic lead prices will feel pressure at RMB 17,000/mt once more, and it is not a easy job to move higher. 

 

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

Key Words:  lead Pb  lead price  LME market  

SMM Daily Review - 2010/1/7 Lead Market

SMM Insight 10:49:04AM Jan 08, 2010 Source:SMM

SHANGHAI, Jan. 8 (SMM) -- Domestic lead market sentiment eventually improved along rising LME lead prices and strong performance of other base metals in domestic markets. In this context, SMM raised prices by RMB 500/mt to RMB 16,750-17,050/mt. Offers of well-known branded products were above RMB 17,000/mt, with limited supply. Prices of unknown products were nearer RMB 16,750/mt. However, downstream producers reported no brisk buying interest due to rapid price gains, especially in the afternoon trade when overall base metal markets plunged, with few transactions.

SMM believes domestic lead prices will feel pressure at RMB 17,000/mt once more, and it is not a easy job to move higher. 

 

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

Key Words:  lead Pb  lead price  LME market