SMM Morning Review - 2010/7/5 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/5 Lead Market

SMM Insight 09:26:43AM Jul 05, 2010 Source:SMM

SHANGHAI, July 5 (SMM) – The US reported mixed employment data, and base metals market closed higher last Friday, but with limited gains. LME lead prices rallied USD 30/mt to end at USD 1,760/mt. Technically, LME lead prices stopped falling, and with upward momentum available. The US dollar fell against the euro following the data, with the US dollar index closing at 84.365.

Gold futures for August delivery closed USD 1 higher at USD 1,207.70 per ounce. Silver futures for September delivery finished down 7.1 cents at USD 17.719 per ounce.

SMM expects domestic lead market is expected to trade in the RMB 14,500-14,800/mt range on Monday.

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 - 2010/7/5 Lead Market

SMM Insight 09:26:43AM Jul 05, 2010 Source:SMM

SHANGHAI, July 5 (SMM) – The US reported mixed employment data, and base metals market closed higher last Friday, but with limited gains. LME lead prices rallied USD 30/mt to end at USD 1,760/mt. Technically, LME lead prices stopped falling, and with upward momentum available. The US dollar fell against the euro following the data, with the US dollar index closing at 84.365.

Gold futures for August delivery closed USD 1 higher at USD 1,207.70 per ounce. Silver futures for September delivery finished down 7.1 cents at USD 17.719 per ounce.

SMM expects domestic lead market is expected to trade in the RMB 14,500-14,800/mt range on Monday.

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