Metals News
SMM Morning Review - 2010/4/16 Lead Market
smm insight
Apr 16,2010

SHANGHAI, April 16 (SMM) -- The LME lead market overnight moved at the 5-day moving average following the US dollar trend, with support available at USD 2,300/mt. Bullish sentiment remains in other neighboring base metal markets, with LME lead prices expected to fluctuate above USD 2,300/mt. 

In neighboring markets, the euro fell back against the dollar after gaining for five days in a row, as market concerns over allocation of funds used to help resolve Greece's debt issues renewed market worries on the euro zone. The US dollar index closed at 80.547. Gold futures on the COMEX closed at USD 1,160.3 per ounce, up USD 0.7, and silver futures for May delivery ended 1.80 cents to USD 18.433 per ounce.

Domestic lead market is expected to move between RMB 15,700-15,850/mt on Friday.

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