SMM Morning Review - 2010/4/22 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/4/22 Lead Market

SMM Insight 09:22:15AM Apr 22, 2010 Source:SMM

SHANGHAI, April 22 (SMM) -- A stronger US dollar weighed on base metals market, and so LME lead prices closed near USD 2,340/mt, with total positions falling by around 90,000 mt. A string of economic data is due to be released in the evening, with LME lead prices expected to fluctuate at USD 2,320/mt.

In neighboring markets, investors are now shifting focus from Goldman's fraud charge to Greece's debt issues, as Greece's move to lift its 10-year bond yields to a new high of 5.01% in recent years raised market worries that the existing aid plan is still unable to help Greece to resolve its debt crisis. In this context, the euro fell against the US dollar, helping the US dollar index close at 81.206. Gold futures for June delivery on the COMEX ended USD 9.60 higher to USD 1148.80 per ounce, and silver futures for May delivery finished up 25.70 cents to USD 18.078 per ounce.

Domestic lead market is expected to trade in the RMB 15,650-15,750/mt range on Thursday. 
 
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 - 2010/4/22 Lead Market

SMM Insight 09:22:15AM Apr 22, 2010 Source:SMM

SHANGHAI, April 22 (SMM) -- A stronger US dollar weighed on base metals market, and so LME lead prices closed near USD 2,340/mt, with total positions falling by around 90,000 mt. A string of economic data is due to be released in the evening, with LME lead prices expected to fluctuate at USD 2,320/mt.

In neighboring markets, investors are now shifting focus from Goldman's fraud charge to Greece's debt issues, as Greece's move to lift its 10-year bond yields to a new high of 5.01% in recent years raised market worries that the existing aid plan is still unable to help Greece to resolve its debt crisis. In this context, the euro fell against the US dollar, helping the US dollar index close at 81.206. Gold futures for June delivery on the COMEX ended USD 9.60 higher to USD 1148.80 per ounce, and silver futures for May delivery finished up 25.70 cents to USD 18.078 per ounce.

Domestic lead market is expected to trade in the RMB 15,650-15,750/mt range on Thursday. 
 
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