SMM Morning Review - 2010/1/29 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/1/29 Lead Market

SMM Insight 10:25:35AM Jan 29, 2010 Source:SMM

SHANGHAI, Jan. 29 (SMM) -- On January 28th, LME lead prices ended USD 29/mt lower to USD 2,065/mt. Base metal markets suffered pressure from concerns over debt in Europe and credit rating, the US proposal of banking regulation, as well as China’s tightening credit. The US stock market hit a new low for 2010 on January 28th, and Dow Jones index fell 115.70, and S&P 500 index lost 12.97, and the Nasdaq composite index slid 42.41. The falling US stock market triggered market concerns of economic recovery, weighing on the commodity market. In this context, LME lead markets weakened. LME lead inventories continued to grow, with stocks up 350 mt on January 28th to 156,125 mt.

LME lead price is expected to be low, ranging from USD 1,980-2,100/mt.

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 - 2010/1/29 Lead Market

SMM Insight 10:25:35AM Jan 29, 2010 Source:SMM

SHANGHAI, Jan. 29 (SMM) -- On January 28th, LME lead prices ended USD 29/mt lower to USD 2,065/mt. Base metal markets suffered pressure from concerns over debt in Europe and credit rating, the US proposal of banking regulation, as well as China’s tightening credit. The US stock market hit a new low for 2010 on January 28th, and Dow Jones index fell 115.70, and S&P 500 index lost 12.97, and the Nasdaq composite index slid 42.41. The falling US stock market triggered market concerns of economic recovery, weighing on the commodity market. In this context, LME lead markets weakened. LME lead inventories continued to grow, with stocks up 350 mt on January 28th to 156,125 mt.

LME lead price is expected to be low, ranging from USD 1,980-2,100/mt.

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