SMM Morning Review - 2010/3/15 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/3/15 Lead Market

SMM Insight 11:50:31AM Mar 15, 2010 Source:SMM

SHANGHAI, Mar. 15 (SMM) -- On Friday, LME lead prices ended higher following a weaker US dollar. Market focus in recent days is still on whether or not China will further tighter its monetary policy. SMM believes LME lead prices will move in the USD 2,240-2,300/mt range on Monday.

In neighboring markets, the euro gained against the dollar due to improved investor confidence from positive industrial production in the euro zone. The US dollar index closed at 79.771. Gold futures on the COMEX ended at USD 1,101.70 per ounce, down USD 6.50. Silver contracts for May delivery finished off 11.2 cents to USD 17.160 per ounce. 

Domestic lead market is expected to trade between RMB 15,650-15,800/mt on Monday.

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 - 2010/3/15 Lead Market

SMM Insight 11:50:31AM Mar 15, 2010 Source:SMM

SHANGHAI, Mar. 15 (SMM) -- On Friday, LME lead prices ended higher following a weaker US dollar. Market focus in recent days is still on whether or not China will further tighter its monetary policy. SMM believes LME lead prices will move in the USD 2,240-2,300/mt range on Monday.

In neighboring markets, the euro gained against the dollar due to improved investor confidence from positive industrial production in the euro zone. The US dollar index closed at 79.771. Gold futures on the COMEX ended at USD 1,101.70 per ounce, down USD 6.50. Silver contracts for May delivery finished off 11.2 cents to USD 17.160 per ounce. 

Domestic lead market is expected to trade between RMB 15,650-15,800/mt on Monday.

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