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SMM Morning Review - 2010/7/30 Lead Market
Jul 30,2010 09:09CST
smm insight
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 

 

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