SMM Morning Review - 2010/2/9 Lead Market

SHANGHAI, Feb. 9 (SMM) -- On Monday, LME lead prices closed at USD 1,980/mt. Base metals markets are expected to experience consolidations in the short term, given rising stock markets, improved euro performance, and the upcoming Chinese New Year holiday. However, wild fluctuations in neighboring markets will influence base metals price trends. At present, market concerns towards debt crisis in the euro zone were eased to some extent, and with risk aversion continuing to dominate market sentiment.

In neighboring markets, Dow Jones index closed below 10,000 points, the first time since November 2009. The euro continued to suffer pressure from debt fears in the euro zone, and the US dollar index closed at 80.35. Gold futures on the COMEX experienced modest gains, with April delivery advancing to USD 1,066.2 per ounce, up USD 13.4. Silver futures for March delivery closed up cents 25.5 to USD 15.085 per ounce.

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

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