Metals News
SMM Morning Review - 2010/12/6 Lead Market
smm insight
Dec 6,2010

SHANGHAI, Dec. 6 (SMM) – LME lead prices fell by USD 14.5/mt to close at USD 2,352.5/mt last Friday. The US dollar index hit 81 last week before falling back to around 79, due to the worse-than-expected US nonfarm employment data released last week. The weaker US dollar index may support base metals prices to stabilize, and SMM expects LME lead prices to fluctuate above USD 2,300/mt in the near future.

In neighboring markets, gold futures for February delivery in COMEX closed USD 16.90 higher at USD 1,406.20 per ounce; silver futures for March delivery in COMEX closed 69.9 cents higher at USD 29.271 per ounce.

SMM expects transactions in China’s lead spot markets to be made  at around RMB 17,100/mt on Monday.

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