SMM Morning Review - 2010/6/18 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/6/18 Lead Market

SMM Insight 10:05:08AM Jun 18, 2010 Source:SMM

SHANGHAI, June 18 (SMM) – Market concerns over demand in China, triggered by no strong performance in the post-holiday market slowed price gains on the LME market. LME lead prices on Thursday closed at USD 1,740/mt, with no clear market direction available. SMM believes LME lead prices will remain pressed at USD 1,800/mt.

In neighboring markets, the euro advanced against the US dollar following positive sales of Spain's 10-year government bonds, helping the US dollar index drop to 85.647. Gold futures for August delivery closed at USD 1,248.70 per ounce, up USD 18.20. Silver futures for July delivery ended at 33.50 cents higher at USD 18.776 per ounce.

Domestic lead market is expected to trade between RMB 14,150-14,350/mt on Friday.

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 - 2010/6/18 Lead Market

SMM Insight 10:05:08AM Jun 18, 2010 Source:SMM

SHANGHAI, June 18 (SMM) – Market concerns over demand in China, triggered by no strong performance in the post-holiday market slowed price gains on the LME market. LME lead prices on Thursday closed at USD 1,740/mt, with no clear market direction available. SMM believes LME lead prices will remain pressed at USD 1,800/mt.

In neighboring markets, the euro advanced against the US dollar following positive sales of Spain's 10-year government bonds, helping the US dollar index drop to 85.647. Gold futures for August delivery closed at USD 1,248.70 per ounce, up USD 18.20. Silver futures for July delivery ended at 33.50 cents higher at USD 18.776 per ounce.

Domestic lead market is expected to trade between RMB 14,150-14,350/mt on Friday.

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