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SMM Morning Review - 2010/1/19 Lead Market
Jan 19,2010 10:19CST
smm insight

SHANGHAI, Jan. 19 (SMM) -- LME base metals markets represented mild performance on Monday when the US market was closed. LME lead prices showed signs of stabilizing at the point at which the 20 and 30-day moving average intersected. Recently, market reported mixed news. China's Central Bank's unexpected move to raise the deposit reserve requirement ratio triggered divided views from the market. LME lead market depended on the financial markets, waiting for direction from stock markets following the announcement of corporate quarterly reports.

SMM expects domestic spot lead market to trade in the RMB 16,600-16,900/mt range.


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