SMM Morning Review - 2010/6/12 Lead Market -Shanghai Metals Market

Hot Keywords

  • Zinc
  • Nickel
  • MMi Iron Ore Port Index
  • Inventory data
  • Futures movement
  • Aluminium
  • ஷாங்காய் துத்தநாகம்
  • Xiexin new energy
  • Rare earths
  • Morning comments
  • Evening comments
  • Copper
  • price
  • Smog alert
  • Tin

SMM Morning Review - 2010/6/12 Lead Market

SMM Insight 10:30:35AM Jun 12, 2010 Source:SMM

SHANGHAI, June 12 (SMM) – On Friday, LME lead prices moved around the 10-day moving average, reaching as high as USD 1,710/mt, but failed to find a solid foot at above USD 1,700/mt at the closing. LME lead prices are closely tied to economy, and whether or not LME lead prices will climb higher depends on outlook for economy.

In neighboring markets, the euro dropped slightly against the US dollar. The euro dropped to 1.2045 due to the weaker-than-expected US retails data, and later pared some losses along with better-than-expected US consumer confidence index. As a result, the US dollar index closed at 87.282. Gold futures for August delivery closed at USD 1,230.20 per ounce, up USD 8. Silver futures for July delivery finished 12 cents lower at USD 18.231 per ounce. 
 
To contact the writer on this report:
xiaqing@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 - 2010/6/12 Lead Market

SMM Insight 10:30:35AM Jun 12, 2010 Source:SMM

SHANGHAI, June 12 (SMM) – On Friday, LME lead prices moved around the 10-day moving average, reaching as high as USD 1,710/mt, but failed to find a solid foot at above USD 1,700/mt at the closing. LME lead prices are closely tied to economy, and whether or not LME lead prices will climb higher depends on outlook for economy.

In neighboring markets, the euro dropped slightly against the US dollar. The euro dropped to 1.2045 due to the weaker-than-expected US retails data, and later pared some losses along with better-than-expected US consumer confidence index. As a result, the US dollar index closed at 87.282. Gold futures for August delivery closed at USD 1,230.20 per ounce, up USD 8. Silver futures for July delivery finished 12 cents lower at USD 18.231 per ounce. 
 
To contact the writer on this report:
xiaqing@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