SMM Morning Review - 2010/12/9 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/9 Lead Market

SMM Insight 09:44:05AM Dec 09, 2010 Source:SMM

SHANGHAI, Dec. 9 (SMM) – ETF Securities will offer Exchange Traded Products (ETP) supported by physical base metals on Friday, so investors are expected to increase purchases for base metals, leading to improved demand outlook. In this context, base metals markets closed with gains on Wednesday, despite the rising US dollar index which settled at 80.067 finally. LME lead prices rose by USD 27.5/mt to USD 2,415/mt in response. SMM expects LME lead prices may fluctuate around USD 2,400/mt in the near future.

In neighboring markets, gold futures for February delivery closed USD 25.80 lower at USD 1,383.20 per ounce; silver futures for March delivery closed USD 1.525 lower at USD 28.252 per ounce. 

SMM expects transactions in China’s lead spot markets to be made in the RMB 17,150-17,250/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

 

 

 


 

Key Words:  lead Pb  lead prices 

SMM Morning Review - 2010/12/9 Lead Market

SMM Insight 09:44:05AM Dec 09, 2010 Source:SMM

SHANGHAI, Dec. 9 (SMM) – ETF Securities will offer Exchange Traded Products (ETP) supported by physical base metals on Friday, so investors are expected to increase purchases for base metals, leading to improved demand outlook. In this context, base metals markets closed with gains on Wednesday, despite the rising US dollar index which settled at 80.067 finally. LME lead prices rose by USD 27.5/mt to USD 2,415/mt in response. SMM expects LME lead prices may fluctuate around USD 2,400/mt in the near future.

In neighboring markets, gold futures for February delivery closed USD 25.80 lower at USD 1,383.20 per ounce; silver futures for March delivery closed USD 1.525 lower at USD 28.252 per ounce. 

SMM expects transactions in China’s lead spot markets to be made in the RMB 17,150-17,250/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

 

 

 


 

Key Words:  lead Pb  lead prices