SMM Morning Review - 2010/1/27 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/1/27 Lead Market

SMM Insight 10:02:41AM Jan 27, 2010 Source:SMM

SHANGHAI, Jan. 27 (SMM) -- On January 27th, LME lead prices closed down USD 15/mt to USD 2,200/mt. Liquidity tightening in China helped the US dollar strengthen, and the US dollar index climbed 0.22 to 78.44, weighing on the industrial metals. The US stock market ended slightly lower on January 26th, and the Dow Jones index finished the trading day at 10,194.29, down 2.57 or 0.03%. Nasdaq composite index closed down 7.07, and S&P 500 index ended 4.61 lower. LME lead inventories continued to grow, with stocks up 350 mt to 154,050 mt on January 26th, and the inventories increased for 28 consecutive trading days since December 15th.

SMM takes a pessimistic view over LME lead prices, with levels estimated in the USD 2,100-2,230/mt range.

To contact the writer on this report: Sherryshi@smm.cn

 

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 - 2010/1/27 Lead Market

SMM Insight 10:02:41AM Jan 27, 2010 Source:SMM

SHANGHAI, Jan. 27 (SMM) -- On January 27th, LME lead prices closed down USD 15/mt to USD 2,200/mt. Liquidity tightening in China helped the US dollar strengthen, and the US dollar index climbed 0.22 to 78.44, weighing on the industrial metals. The US stock market ended slightly lower on January 26th, and the Dow Jones index finished the trading day at 10,194.29, down 2.57 or 0.03%. Nasdaq composite index closed down 7.07, and S&P 500 index ended 4.61 lower. LME lead inventories continued to grow, with stocks up 350 mt to 154,050 mt on January 26th, and the inventories increased for 28 consecutive trading days since December 15th.

SMM takes a pessimistic view over LME lead prices, with levels estimated in the USD 2,100-2,230/mt range.

To contact the writer on this report: Sherryshi@smm.cn

 

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