SMM Morning Review - 2010/2/1 Lead Market

SHANGHAI, Feb. 1 (SMM) -- On Friday, LME lead prices remained on a downward track. Positions experienced slight increases, but buying interest was still cautious at price level of RMB 2,000/mt. SMM believes LME lead market will continue to follow price trends of other base metals this week.

In neighboring markets, the US dollar advanced against major currencies. The euro dropped below 1.39 against the dollar following the news of higher-than-expected data in the US, hitting a six and half-a-month low. Gold futures on the COMEX closed slightly down on Friday. Due to a stronger dollar, gold futures for February delivery ended USD 0.6/mt to USD 1,083 per ounce, and silver futures for March delivery closed at USD 16.19 per ounce, down 2.2 cents.

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

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