SMM Morning Review - 2010/12/22 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/22 Lead Market

SMM Insight 09:27:02AM Dec 22, 2010 Source:SMM

SHANGHAI, Dec. 22 (SMM) – On Tuesday, the US dollar index hit as high as 80.8. However, LME lead prices ended USD 20.3/mt higher at USD 2,464.8/mt with a high opening following LME copper prices’ fresh record high, indicating strong support at around USD 2,430/mt. At present, LME lead prices are staying far above all moving averages, and SMM expects LME lead prices may fluctuate between USD 2,430-2,470/mt in the near term.

In neighboring markets, gold futures for February delivery closed USD 2.70 higher at 1,388.80 per ounce. 

SMM expects transactions in China’s lead spot markets to be made in the 17,000-17,100/mt range on Wednesday.


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 - 2010/12/22 Lead Market

SMM Insight 09:27:02AM Dec 22, 2010 Source:SMM

SHANGHAI, Dec. 22 (SMM) – On Tuesday, the US dollar index hit as high as 80.8. However, LME lead prices ended USD 20.3/mt higher at USD 2,464.8/mt with a high opening following LME copper prices’ fresh record high, indicating strong support at around USD 2,430/mt. At present, LME lead prices are staying far above all moving averages, and SMM expects LME lead prices may fluctuate between USD 2,430-2,470/mt in the near term.

In neighboring markets, gold futures for February delivery closed USD 2.70 higher at 1,388.80 per ounce. 

SMM expects transactions in China’s lead spot markets to be made in the 17,000-17,100/mt range on Wednesday.


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