SMM Morning Review - 2010/12/8 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/8 Lead Market

SMM Insight 09:24:22AM Dec 08, 2010 Source:SMM

SHANGHAI, Dec. 8 (SMM) – On Tuesday, LME lead prices rose by USD 51.5/mt to USD 2,387.5/mt, despite the euro lost previous gains against the US dollar. At present, LME lead prices are around the 30-day moving average. SMM expects LME lead prices to fluctuate below USD 2,400/mt in the near future.

In neighboring markets, the US dollar index rose at the tail of trading to settle at 79.931, due to weaker optimism toward the US tax cut extension. Gold futures for February delivery closed USD 7.10 lower at USD 1,409 per ounce.

SMM expects transactions in China’s lead spot markets to be made in the RMB 17,200-17,300/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  lead price 

SMM Morning Review - 2010/12/8 Lead Market

SMM Insight 09:24:22AM Dec 08, 2010 Source:SMM

SHANGHAI, Dec. 8 (SMM) – On Tuesday, LME lead prices rose by USD 51.5/mt to USD 2,387.5/mt, despite the euro lost previous gains against the US dollar. At present, LME lead prices are around the 30-day moving average. SMM expects LME lead prices to fluctuate below USD 2,400/mt in the near future.

In neighboring markets, the US dollar index rose at the tail of trading to settle at 79.931, due to weaker optimism toward the US tax cut extension. Gold futures for February delivery closed USD 7.10 lower at USD 1,409 per ounce.

SMM expects transactions in China’s lead spot markets to be made in the RMB 17,200-17,300/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  lead price