SMM Morning Review - 2010/3/22 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/3/22 Lead Market

SMM Insight 11:14:15AM Mar 22, 2010 Source:SMM

SHANGHAI, Mar. 22 (SMM) -- LME lead market closed down USD 36/mt in electronic dealing on Friday following market worries over possible changes in China's monetary policy after India raised interest rates. A stronger US dollar weighed down base metal market. LME lead prices are expected to move around USD 2,200/mt.

In neighboring markets, the euro hit a new low since March 2 against the US dollar following market concerns over EU's inability to resolve its debt crisis, after Greece asked for IMF help instead due to its belief of limited hope of an aid plan from EU for its debt issues. The US dollar index closed at 80.759. Gold futures on the COMEX ended at USD 1,107.60 per ounce, down USD 19.90. Silver futures for May delivery finished off 39 cents to USD 17.032 per ounce.

Domestic lead market is expected to trade between RMB 15,550-15,700/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 - 2010/3/22 Lead Market

SMM Insight 11:14:15AM Mar 22, 2010 Source:SMM

SHANGHAI, Mar. 22 (SMM) -- LME lead market closed down USD 36/mt in electronic dealing on Friday following market worries over possible changes in China's monetary policy after India raised interest rates. A stronger US dollar weighed down base metal market. LME lead prices are expected to move around USD 2,200/mt.

In neighboring markets, the euro hit a new low since March 2 against the US dollar following market concerns over EU's inability to resolve its debt crisis, after Greece asked for IMF help instead due to its belief of limited hope of an aid plan from EU for its debt issues. The US dollar index closed at 80.759. Gold futures on the COMEX ended at USD 1,107.60 per ounce, down USD 19.90. Silver futures for May delivery finished off 39 cents to USD 17.032 per ounce.

Domestic lead market is expected to trade between RMB 15,550-15,700/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