SMM Morning Review - 2010/7/30 Lead Market -Shanghai Metals Market

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SMM Morning Review - 2010/7/30 Lead Market

SMM Insight 09:09:59AM Jul 30, 2010 Source:SMM

SHANGHAI, July 30 (SMM) – LME base metals market moved higher on Thursday following better-than-expected first-time filings for unemployment benefits from the US. LME lead prices were steady at above the 5-day moving average, reaching as high as USD 2,056/mt from the USD 2,000/mt mark, and finally closed at USD 2,040/mt, gradually consolidating its position at USD 2,000/mt.

SMM believes that domestic lead prices will test RMB 15,900-16,000/mt 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

Key Words:  lead Pb  lead price  LME market  

SMM Morning Review - 2010/7/30 Lead Market

SMM Insight 09:09:59AM Jul 30, 2010 Source:SMM

SHANGHAI, July 30 (SMM) – LME base metals market moved higher on Thursday following better-than-expected first-time filings for unemployment benefits from the US. LME lead prices were steady at above the 5-day moving average, reaching as high as USD 2,056/mt from the USD 2,000/mt mark, and finally closed at USD 2,040/mt, gradually consolidating its position at USD 2,000/mt.

SMM believes that domestic lead prices will test RMB 15,900-16,000/mt 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

Key Words:  lead Pb  lead price  LME market