SMM Morning Review - 2010/12/20 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/20 Lead Market

SMM Insight 09:12:36AM Dec 20, 2010 Source:SMM

SHANGHAI, Dec. 20 (SMM) – Despite a stronger US dollar index, base metals prices ended high last Friday. LME lead prices rose by USD 55/mt to finally close at USD 2,425/mt, returning above all moving averages. The US dollar index may hover at around 80, and SMM expects LME lead prices to fluctuate between USD 2,400-2,450/mt in the short term.

In neighboring markets, the US dollar index closed higher at 80.362, due to the lower Irish sovereignty debt rating. Gold futures for February delivery closed USD 8.20 higher at 1,379.20 per ounce; silver futures for March delivery closed 35.1 cents higher at USD 29.1330 per ounce. 

SMM expects transactions in China’s lead spot markets to be made in the 17,000-17,050/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 - 2010/12/20 Lead Market

SMM Insight 09:12:36AM Dec 20, 2010 Source:SMM

SHANGHAI, Dec. 20 (SMM) – Despite a stronger US dollar index, base metals prices ended high last Friday. LME lead prices rose by USD 55/mt to finally close at USD 2,425/mt, returning above all moving averages. The US dollar index may hover at around 80, and SMM expects LME lead prices to fluctuate between USD 2,400-2,450/mt in the short term.

In neighboring markets, the US dollar index closed higher at 80.362, due to the lower Irish sovereignty debt rating. Gold futures for February delivery closed USD 8.20 higher at 1,379.20 per ounce; silver futures for March delivery closed 35.1 cents higher at USD 29.1330 per ounce. 

SMM expects transactions in China’s lead spot markets to be made in the 17,000-17,050/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