SMM Morning Review - 2010/4/16 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/4/16 Lead Market

SMM Insight 10:03:07AM Apr 16, 2010 Source:SMM

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.

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 - 2010/4/16 Lead Market

SMM Insight 10:03:07AM Apr 16, 2010 Source:SMM

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.

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