SMM Morning Review - 2010/5/10 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/5/10 Lead Market

SMM Insight 09:24:19AM May 10, 2010 Source:SMM

SHANGHAI, May 10 (SMM) -- The euro rebounded after Germany approved the financial aid plan for Greece, helping easing downward pressure on base metals prices. Last Friday, LME lead prices followed LME nickel prices, closing up USD 65/mt to USD 2,040/mt, with prices expected to test USD 2,100/mt on Monday.

In neighboring markets, the euro rebounded from a 14-month low against the US dollar, but the uncertainty still exists for financial health in the Europe. In this context, SMM expects the euro to fluctuate in the short term. The US dollar closed at 84.352. Gold futures for June delivery ended at USD 1,210.40 per ounce, up USD 13.10. Spot silver prices finished at USD 18.32 per ounce.

Domestic lead prices are expected to deal in the RMB 15,100-15,300/mt range on Monday.

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 - 2010/5/10 Lead Market

SMM Insight 09:24:19AM May 10, 2010 Source:SMM

SHANGHAI, May 10 (SMM) -- The euro rebounded after Germany approved the financial aid plan for Greece, helping easing downward pressure on base metals prices. Last Friday, LME lead prices followed LME nickel prices, closing up USD 65/mt to USD 2,040/mt, with prices expected to test USD 2,100/mt on Monday.

In neighboring markets, the euro rebounded from a 14-month low against the US dollar, but the uncertainty still exists for financial health in the Europe. In this context, SMM expects the euro to fluctuate in the short term. The US dollar closed at 84.352. Gold futures for June delivery ended at USD 1,210.40 per ounce, up USD 13.10. Spot silver prices finished at USD 18.32 per ounce.

Domestic lead prices are expected to deal in the RMB 15,100-15,300/mt range on Monday.

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