SMM Morning Review - 2010/12/1 Lead Market-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Futures movement
  • MMi Iron Ore Port Index
  • Nickel
  • Copper scrap
  • Copper
  • Aluminium
  • Stainless steel
  • Macroeconomics
  • Evening comments
  • Market commentary
  • Tin
  • Production data
  • inventory

SMM Morning Review - 2010/12/1 Lead Market

SMM Insight 09:31:33AM Dec 01, 2010 Source:SMM

SHANGHAI, Dec. 1 (SMM) – The US consumer confidence index released on Tuesday rose to a five-month high in November, and the Chicago Purchasing Managers Index in November reached 62.5, higher than expected 60. Although the US dollar index rose continuously to hit 81.444 before settling at 81.268, LME base metals markets largely closed with gains on Tuesday, boosted by positive economic data from the US. In this context, LME lead prices rose by USD 45/mt to USD 2,235/mt. SMM expects the stronger US dollar index may weigh down on metals markets, after markets absorb the positive US economic data.  

In neighboring markets, gold futures for December delivery closed USD 18.6 higher at USD 1,386.10 per ounce; silver futures for December delivery closed 1.019 cents higher at USD 28.212 per ounce.

SMM expects transactions in China’s lead spot markets to be made in RMB 17,000-17,100/mt range on Wednesday.


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 

SMM Morning Review - 2010/12/1 Lead Market

SMM Insight 09:31:33AM Dec 01, 2010 Source:SMM

SHANGHAI, Dec. 1 (SMM) – The US consumer confidence index released on Tuesday rose to a five-month high in November, and the Chicago Purchasing Managers Index in November reached 62.5, higher than expected 60. Although the US dollar index rose continuously to hit 81.444 before settling at 81.268, LME base metals markets largely closed with gains on Tuesday, boosted by positive economic data from the US. In this context, LME lead prices rose by USD 45/mt to USD 2,235/mt. SMM expects the stronger US dollar index may weigh down on metals markets, after markets absorb the positive US economic data.  

In neighboring markets, gold futures for December delivery closed USD 18.6 higher at USD 1,386.10 per ounce; silver futures for December delivery closed 1.019 cents higher at USD 28.212 per ounce.

SMM expects transactions in China’s lead spot markets to be made in RMB 17,000-17,100/mt range on Wednesday.


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