SMM Morning Review - 2010/4/2 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/4/2 Lead Market

SMM Insight 10:08:41AM Apr 02, 2010 Source:SMM

SHANGHAI, April 2 (SMM) -- The LME lead market overnight touched as high as the 60-day moving average, breaking through USD 2,200/mt, but closed slightly down around USD 2,185/mt along with profit-taking and falling LME copper prices.

In neighboring markets, the euro gained further versus the dollar, as negative news from the euro zone has been absorbed by the market, helping the euro track its upward trend. The US dollar index closed at 80.716. Gold futures on the COMEX ended at USD 1,126.10 per ounce, up USD 11.6. Silver futures for May delivery finished up 36.4 cents to USD 17.46 per ounce.

Domestic lead market is expected to trade in the RMB 15,600-15,700/mt range on Friday.

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 - 2010/4/2 Lead Market

SMM Insight 10:08:41AM Apr 02, 2010 Source:SMM

SHANGHAI, April 2 (SMM) -- The LME lead market overnight touched as high as the 60-day moving average, breaking through USD 2,200/mt, but closed slightly down around USD 2,185/mt along with profit-taking and falling LME copper prices.

In neighboring markets, the euro gained further versus the dollar, as negative news from the euro zone has been absorbed by the market, helping the euro track its upward trend. The US dollar index closed at 80.716. Gold futures on the COMEX ended at USD 1,126.10 per ounce, up USD 11.6. Silver futures for May delivery finished up 36.4 cents to USD 17.46 per ounce.

Domestic lead market is expected to trade in the RMB 15,600-15,700/mt range on Friday.

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