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SMM Daily Review - 2010/1/7 Lead Market
Jan 8,2010 10:49CST
smm insight

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. 


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