Metals News
SMM Morning Review - 2010/7/19 Lead Market
smm insight
09:23AM
Jul 19,2010
Source:SMM

SHANGHAI, July 19 (SMM) – LME lead market closed at USD 1,770/mt on Friday after down as low as USD 1,760/mt, plagued by weak economic data from the US, and lower-than-expected corporate earnings reports. SMM believes LME lead prices will continue to experience corrections.

In neighboring markets, the euro advanced more against the US dollar, climbing above 1.3000 during the session, helping the US dollar index end at 82.561. Gold futures for August delivery finished off USD 20.10 to end at USD 1,188.20 per ounce. Silver futures for September delivery closed down 57.40 cent at USD 17.788 per ounce.

Domestic lead market is expected to trade in the RMB 14,800-14,900/mt range on Monday.

To contact the writer on this report: xiaqing@smm.cn 

 

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