SMM Morning Review - 2010/3/8 Lead Market

SHANGHAI, Mar. 8 (SMM) -- On Friday, LME lead prices closed up at USD 2,227.8/mt following better-than-expected employment data from the US. Moreover, Chinese Premier's comment that China will keep a moderately loose monetary policy also improved market outlook for metal demand in China. 

In neighboring markets, the euro stopped falling against the dollar due to easing concerns towards debt issues in Greece after the approval of its deficit reduction plan. The US dollar index closed at 80.42. On Friday, gold futures on the COMEX ended up slightly higher. Gold futures for April delivery were up USD 2.1 to USD 1,135.2 per ounce, and silver futures for May delivery were down 20.6 cents to USD 17.382 per ounce.

Domestic lead market is expected to trade in the RMB 15,700-15,800/mt range.

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

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