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SMM Morning Review - 2010/5/5 Lead Market
May 5,2010 09:57CST
smm insight

SHANGHAI, May 5 (SMM) -- Base metal markets were continuing to absorb the previous market negative news. LME lead prices closed at USD 2,060/mt, down USD 165/mt, or 7.42%, setting the largest daily decline since September 10th, 2009. SMM expects LME lead prices will continue to follow trends of other base metals, and to fluctuate at low levels.

In neighboring markets, the euro hit a 12-month low against the dollar, as market concerns over debt issues in Greece and other euro zone countries remain. As a result, the US dollar index climbed above 83, and closed at 83.455. Gold futures for June delivery ended at USD 1,169.20 per ounce, down USD 14.1, and silver futures for July delivery finished off 99.5 cents to USD 17.818 per ounce.

Domestic lead market is expected to trade between RMB 15,300-15,500/mt on Wednesday.

To contact the writer on this report: Sherryshi@smm.cn


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