SMM Morning Review - 2010/3/17 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/3/17 Lead Market

SMM Insight 10:14:06AM Mar 17, 2010 Source:SMM

SHANGHAI, Mar. 17 (SMM) -- The LME lead market overnight closed slightly higher due to a weaker dollar from the Fed statement. However, a downward room is still available for LME lead market based on technical indicators. LME lead prices are expected to fluctuate in the USD 2,170-2,250/mt range.

In neighboring markets, the euro gained against the US dollar, supported by positive impact from the Fed statement and S&P’s affirmation of Greece’s rating. In this context, the US dollar index ended at 79.707. Gold futures on the COMEX closed at USD 1,122.50 per ounce, up USD 17.10. Silver futures for May delivery were up 24.6 cents to USD 17.345 per ounce. 

Domestic lead market is expected to trade between RMB 15,550-15,650/mt on Wednesday. 

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 - 2010/3/17 Lead Market

SMM Insight 10:14:06AM Mar 17, 2010 Source:SMM

SHANGHAI, Mar. 17 (SMM) -- The LME lead market overnight closed slightly higher due to a weaker dollar from the Fed statement. However, a downward room is still available for LME lead market based on technical indicators. LME lead prices are expected to fluctuate in the USD 2,170-2,250/mt range.

In neighboring markets, the euro gained against the US dollar, supported by positive impact from the Fed statement and S&P’s affirmation of Greece’s rating. In this context, the US dollar index ended at 79.707. Gold futures on the COMEX closed at USD 1,122.50 per ounce, up USD 17.10. Silver futures for May delivery were up 24.6 cents to USD 17.345 per ounce. 

Domestic lead market is expected to trade between RMB 15,550-15,650/mt on Wednesday. 

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