SMM Morning Review - 2010/3/8 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/3/8 Lead Market

SMM Insight 10:52:58AM Mar 08, 2010 Source:SMM

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

 

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

SMM Morning Review - 2010/3/8 Lead Market

SMM Insight 10:52:58AM Mar 08, 2010 Source:SMM

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

 

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