Metals News
SMM Morning Review - 2010/1 2/10 Lead Market
smm insight
Dec 10,2010

SHANGHAI, Dec. 10 (SMM) –On Thursday, LME base metals moved moderately in the early session after the US released lower initial jobless claims in the week ending December 4th. However, dragged by the rebounding of the US dollar index which finally settled at 80.063 and investors’ profit-taking, base metals markets lost previous gains later and largely closed lower. LME lead prices fell after a high opening, finally closing at USD 2,405/mt. SMM expects LME lead prices will fluctuating around USD 2,400/mt in the near future, waiting for guide from macro economic factors.

In neighboring markets, gold futures for February delivery closed USD 9.60 higher at USD 1,392.80 per ounce; silver futures for March delivery closed USD 0.565 higher at USD 28.817 per ounce. 

SMM expects transactions in China’s lead spot markets to be made at around RMB 17,150/mt on Friday.

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