SMM Morning Review - 2010/7/13 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/13 Lead Market

SMM Insight 09:21:04AM Jul 13, 2010 Source:SMM

SHANGHAI, July 13 (SMM) – LME base metals market ended lower due to a fall in China’s copper imports in June. LME lead prices closed with a loss of USD 45/mt, and failed to hold at USD 1,800/mt. SMM believes LME lead market will fluctuate at USD 1,800/mt in the near future.

In neighboring markets, worries on debt issues in the Europe were revived as S&P maintained its negative outlook on Britain’s credit ratings. On Monday, the euro dropped against the US dollar, and the US dollar index closed at 84.186. Gold futures for August delivery finished down USD 11.10 to end at USD 1,198.70 per ounce. Silver futures for September delivery ended 15.60 cents lower at USD 17.9170 per ounce.

SMM expects domestic lead market to trade in the RMB 14,700-14,800/mt range on Tuesday.

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 - 2010/7/13 Lead Market

SMM Insight 09:21:04AM Jul 13, 2010 Source:SMM

SHANGHAI, July 13 (SMM) – LME base metals market ended lower due to a fall in China’s copper imports in June. LME lead prices closed with a loss of USD 45/mt, and failed to hold at USD 1,800/mt. SMM believes LME lead market will fluctuate at USD 1,800/mt in the near future.

In neighboring markets, worries on debt issues in the Europe were revived as S&P maintained its negative outlook on Britain’s credit ratings. On Monday, the euro dropped against the US dollar, and the US dollar index closed at 84.186. Gold futures for August delivery finished down USD 11.10 to end at USD 1,198.70 per ounce. Silver futures for September delivery ended 15.60 cents lower at USD 17.9170 per ounce.

SMM expects domestic lead market to trade in the RMB 14,700-14,800/mt range on Tuesday.

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