SMM Morning Review - 2010/5/20 Lead Market -Shanghai Metals Market

Hot Keywords

  • Air pollution
  • Inventory data
  • Zinc
  • Nickel
  • Market commentary
  • Copper
  • nickel laterite
  • hydrogenation stations
  • Aluminium
  • Nickel ore
  • Futures movement
  • Macroeconomics
  • Production data
  • Morning comments
  • Tin

SMM Morning Review - 2010/5/20 Lead Market

SMM Insight 09:59:49AM May 20, 2010 Source:SMM

SHANGHAI, May 20 (SMM) -- On Wednesday, LME lead prices moved in the low range of USD 1,750-1,820/mt, with total positions down more than 1,000 lots. The bearish sentiment from ongoing debt issues in the Europe left a tough task for LME lead prices to rebound. 

In neighboring markets, Dow Jones index closed down on Wednesday despite of moderate economic data in the US. However, crude oil futures on the NYMEX finished USD 0.46 higher, bringing its declining trend over the past six trading days to an end. The euro rallied from its 4-year low, as market players believed that European government would take actions for recent rapid declines of the euro. Gold futures for June delivery closed at USD 1,193.1 per ounce, down USD 21.5. silver futures for July delivery ended 76.4 cents lower at USD 18.115 per ounce.

Domestic lead market is expected to trade around RMB 14,500/mt.

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 - 2010/5/20 Lead Market

SMM Insight 09:59:49AM May 20, 2010 Source:SMM

SHANGHAI, May 20 (SMM) -- On Wednesday, LME lead prices moved in the low range of USD 1,750-1,820/mt, with total positions down more than 1,000 lots. The bearish sentiment from ongoing debt issues in the Europe left a tough task for LME lead prices to rebound. 

In neighboring markets, Dow Jones index closed down on Wednesday despite of moderate economic data in the US. However, crude oil futures on the NYMEX finished USD 0.46 higher, bringing its declining trend over the past six trading days to an end. The euro rallied from its 4-year low, as market players believed that European government would take actions for recent rapid declines of the euro. Gold futures for June delivery closed at USD 1,193.1 per ounce, down USD 21.5. silver futures for July delivery ended 76.4 cents lower at USD 18.115 per ounce.

Domestic lead market is expected to trade around RMB 14,500/mt.

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