Home / Metal News / Copper / SMM Morning Review - 2010/9/16 Lead Market
SMM Morning Review - 2010/9/16 Lead Market
Sep 16,2010 09:35CST
smm insight

SHANGAHI, Sep. 16 (SMM) –

Concerns over global demand for base metals were aroused on Wednesday due to slower economic growth in the US from lower-than-excepted US industrial output data and rumors that China would further tighten monetary policies. In this context, base metal market fell on Wednesday. LME lead prices fluctuated in the USD 2,200-2,240/mt range and closed at USD 2,230/mt finally. LME lead prices got support on the 5-day moving average, thus SMM expects that LME lead prices will fluctuate above moving averages in the short term.

In neighboring markets, the US dollar index rallied to around 81.5 following Japan’s measures of suppressing the yen. Gold futures for December delivery closed USD 3 lower at USD 1,268.70 per ounce; silver futures for December delivery closed 13.9 cents higher at USD 20.571 per ounce.

SMM expects that transactions in domestic lead market will be done in the RMB 16,250-16,450/mt range on Thursday. 


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

lead Pb
lead price

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news