SMM Morning Review - 2010/7/26 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/26 Lead Market

SMM Insight 09:28:17AM Jul 26, 2010 Source:SMM

SHANGHAI, July 26 (SMM) – LME lead prices kept its rising trend on Friday, and ended at USD 1,975/mt, up USD 50/mt. LME base metals market made positive reaction to the results of stress tests on European banks. At present, an upward momentum is available on technical data, and SMM believes LME lead prices will move towards USD 2,000/mt.

In neighboring markets, the euro moved steadily against the US dollar, supported by favorable results of European bank stress tests and better-than-expected economic data from the Europe. In this context, the US dollar index closed at 82.516. Gold futures for August delivery closed down USD 7.80 to end at USD 1,187.80 per ounce; Silver futures for September delivery finished off 1.90 cents at USD 18.101 per ounce.

Domestic lead market is expected to trade between RMB 15,300-15,600/mt 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 - 2010/7/26 Lead Market

SMM Insight 09:28:17AM Jul 26, 2010 Source:SMM

SHANGHAI, July 26 (SMM) – LME lead prices kept its rising trend on Friday, and ended at USD 1,975/mt, up USD 50/mt. LME base metals market made positive reaction to the results of stress tests on European banks. At present, an upward momentum is available on technical data, and SMM believes LME lead prices will move towards USD 2,000/mt.

In neighboring markets, the euro moved steadily against the US dollar, supported by favorable results of European bank stress tests and better-than-expected economic data from the Europe. In this context, the US dollar index closed at 82.516. Gold futures for August delivery closed down USD 7.80 to end at USD 1,187.80 per ounce; Silver futures for September delivery finished off 1.90 cents at USD 18.101 per ounce.

Domestic lead market is expected to trade between RMB 15,300-15,600/mt 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