SMM Morning Review - 2010/12/14 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/14 Lead Market

SMM Insight 09:41:38AM Dec 14, 2010 Source:SMM

SHANGHAI, Dec. 14 (SMM) – On Monday, the US dollar index fell below 80 to finally settle at 79.326 due to eased concerns on China’s interest rate hike. In response, base metals prices rose, and LME lead prices rose after opening at USD 2,432.5/mt, but met resistance later to finally close USD 37.5/mt higher. SMM expects LME lead prices to move above USD 2,400/mt in the short term. 

In neighboring markets, gold futures for February delivery closed USD 13.10 higher at USD 1,398 per ounce; silver futures for March delivery closed USD 1.019 higher at USD 29.624 per ounce.

SMM expects transactions in China’s lead spot markets to be made in the 17,150-17,250/mt range on Tuesday.


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 - 2010/12/14 Lead Market

SMM Insight 09:41:38AM Dec 14, 2010 Source:SMM

SHANGHAI, Dec. 14 (SMM) – On Monday, the US dollar index fell below 80 to finally settle at 79.326 due to eased concerns on China’s interest rate hike. In response, base metals prices rose, and LME lead prices rose after opening at USD 2,432.5/mt, but met resistance later to finally close USD 37.5/mt higher. SMM expects LME lead prices to move above USD 2,400/mt in the short term. 

In neighboring markets, gold futures for February delivery closed USD 13.10 higher at USD 1,398 per ounce; silver futures for March delivery closed USD 1.019 higher at USD 29.624 per ounce.

SMM expects transactions in China’s lead spot markets to be made in the 17,150-17,250/mt range on Tuesday.


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