SMM Morning Review - 2010/7/19 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/19 Lead Market

SMM Insight 09:23:42AM 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 

 

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 - 2010/7/19 Lead Market

SMM Insight 09:23:42AM 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 

 

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