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SMM Morning Review - 2010/8/26 Lead Market
Aug 26, 2010 11:06CST
Source:SMM

SHANGHAI, Aug. 26 (SMM) -- Lower-than-expected new home sales data and the durable goods orders further weighed on base metal prices, and LME lead prices fell to test USD 1,954/mt and finally closed at USD 1,995/mt. The US dollar index slipped to 83.189, but still failed to support LME lead prices. Recent weak performance of LME lead prices will hard to change.  

In neighboring markets, gold futures for December delivery closed up USD 7.90 to end at USD 1,241.30 per ounce. Silver futures for September delivery finished 64.8 cents higher at USD 19.026 per ounce.

LME lead prices will struggle around USD 2,000/mt and move between USD 1,950-2,000/mt. Domestic lead market is expected to trade in the RMB 15,750-15,900/mt range on Thursday.


 
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