Home / Metal News / Copper / SMM Morning Review - 2010/7/16 Lead Market
SMM Morning Review - 2010/7/16 Lead Market
Jul 16,2010 09:29CST
smm insight
Source:SMM

SHANGHAI, July 16 (SMM) – LME lead prices on Thursday closed down USD 15/mt to end below USD 1,800/mt, and trading slowed down further. A rally in the US equities market, the US dollar index at level less than 83, and a slew of mixed economic data all failed to change the existing fluctuating price trend on the LME lead market. SMM believes LME lead prices will continue to fluctuate.

In neighboring markets, a weaker economic data from the US added to market investor concerns towards the economic recovery in the country, while a solid debt auction in Greece, Spain, and Portugal eased market worries over debt issues in the Europe. In this context, the euro gained further against the US dollar, climbing above 1.29 in the session. As a result, the US dollar index on Thursday closed at 82.464. Gold futures for August delivery finished up USD 1.30 at USD 1,208.30 per ounce. Silver futures for September delivery ended 7.20 cent higher at USD 18.362 per ounce.

SMM expects domestic lead market to trade in the RMB 14,700-14,850/mt range 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

gold
gold futures
lead Pb
lead price
LME market
SHFE market
silver
silver futures
US dollar
US dollar index

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news