SMM Morning Review - 2010/12/13 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/13 Lead Market

SMM Insight 09:15:50AM Dec 13, 2010 Source:SMM

SHANGHAI, Dec. 13 (SMM) – Last Friday, China’s Central Bank announced again to lift reserve requirement ratio (RRR) by 0.5%, easing investors’ concerns about China’s monetary policies. However, LME lead prices were weighed down to finally close at USD 2,395/mt, due to a stronger US dollar index. SMM expects LME lead prices may fluctuate around USD 2,400/mt in the near future.

In neighboring markets, the US dollar index rebounded above 80, finally settling at 80.107. Gold futures for February delivery closed USD 7.90 lower at USD 1,384.90 per ounce; silver futures for March delivery closed USD 0.212 lower at USD 28.605 per ounce.

SMM expects transactions in China’s lead spot markets to be made in the 17,100-17,200/mt range on Monday.


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 - 2010/12/13 Lead Market

SMM Insight 09:15:50AM Dec 13, 2010 Source:SMM

SHANGHAI, Dec. 13 (SMM) – Last Friday, China’s Central Bank announced again to lift reserve requirement ratio (RRR) by 0.5%, easing investors’ concerns about China’s monetary policies. However, LME lead prices were weighed down to finally close at USD 2,395/mt, due to a stronger US dollar index. SMM expects LME lead prices may fluctuate around USD 2,400/mt in the near future.

In neighboring markets, the US dollar index rebounded above 80, finally settling at 80.107. Gold futures for February delivery closed USD 7.90 lower at USD 1,384.90 per ounce; silver futures for March delivery closed USD 0.212 lower at USD 28.605 per ounce.

SMM expects transactions in China’s lead spot markets to be made in the 17,100-17,200/mt range on Monday.


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