SMM Morning Review - 2010/1/26 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/1/26 Lead Market

SMM Insight 10:15:22AM Jan 26, 2010 Source:SMM

SHANGHAI, Jan. 26 (SMM) -- On January 25th, LME lead prices closed USD 20.5/mt down to USD 2,215/mt. During the Asian trading hours on January 25th, LME lead prices rallied with rising prices in Asia, but much market attention in the later trading time was paid to the question whether Ben Bernanke will continue to serve as the chairman of the US Federal Reserve. Rising crude oil prices helped narrow lead price declines. However, LME lead inventories continued to grow, with stocks on January 25th up 225 mt to 153,700 mt, and with no signs of falling, leaving a pessimistic outlook for lead prices.

SMM predicts LME lead prices are expected to be USD 2,100-2,260/mt on Tuesday.

 

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 Morning Review - 2010/1/26 Lead Market

SMM Insight 10:15:22AM Jan 26, 2010 Source:SMM

SHANGHAI, Jan. 26 (SMM) -- On January 25th, LME lead prices closed USD 20.5/mt down to USD 2,215/mt. During the Asian trading hours on January 25th, LME lead prices rallied with rising prices in Asia, but much market attention in the later trading time was paid to the question whether Ben Bernanke will continue to serve as the chairman of the US Federal Reserve. Rising crude oil prices helped narrow lead price declines. However, LME lead inventories continued to grow, with stocks on January 25th up 225 mt to 153,700 mt, and with no signs of falling, leaving a pessimistic outlook for lead prices.

SMM predicts LME lead prices are expected to be USD 2,100-2,260/mt on Tuesday.

 

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