Home / Metal News / Copper / SMM Morning Review - 2010/2/26 Lead Market
SMM Morning Review - 2010/2/26 Lead Market
Feb 26,2010 10:43CST
smm insight
Source:SMM

SHANGHAI, Feb. 26 (SMM) -- On February 25th, LME lead prices dropped slightly, with prices closing down USD 40/mt to USD 2,160/mt. On Thursday, the US Commerce Department announced durable goods order for January was down 0.6% after deduction of transport equipment, below the expected 1.0 % increase. In addition, the US Labor Department released initial unemployment claims in the week ended in February 20 was up to 496,000, well above market estimation of 455,000. The unfavorable data cast a shadow over the economic recovery in the US, further triggering market concerns. In addition, S&P will likely further downgrade Greece's credit rating, and with more attention on fiscal conditions of those troubled countries in the euro zone, resulting in further market fears of economic recovery.

Dow Jones index fell 53.13 to 10321.03 points, and S&P dropped 2.31 to 102.93 points, and Nasdaq Composite Index was down 1.68 to 2234.22 points, weighing down LME lead market.

On the same day, LME lead inventories were up 1,050 mt to 163,025 mt, further depressing lead market outlook.

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

lead Pb
lead price
LME market

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news