SMM Morning Review - 2010/12/23 Lead Market-Shanghai Metals Market

Hot Keywords

  • Nickel market
  • Copper
  • Silicon
  • Nickel ore
  • Aluminium
  • Inventory data
  • Sales data
  • Market commentary
  • Evening comments
  • Stainless steel
  • Production data
  • Nickel
  • Zinc
  • Morning comments
  • Futures movement

SMM Morning Review - 2010/12/23 Lead Market

SMM Insight 09:26:57AM Dec 23, 2010 Source:SMM

SHANGHAI, Dec. 23 (SMM) – On Wednesday, LME lead fell by USD 19.3/mt to close at USD 2,445.5/mt, due to investors’ profit-takings before the Christmas Holiday, and due to pressures from the moderate 3Q GDP in the US. At present, LME lead prices are moving around the 5-day moving average, and SMM expects LME lead prices may fluctuate upward around USD 2,430/mt in the near term. 

In neighboring markets, the US dollar index fell to finally settle at 80.573. Gold futures for February delivery closed USD 1.40 lower at 1,387.40 per ounce; silver futures for March delivery fluctuated between USD 29.23-29.485 per ounce, finally closing 0.90 cents lower at USD 29.385 per ounce.  

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


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 - 2010/12/23 Lead Market

SMM Insight 09:26:57AM Dec 23, 2010 Source:SMM

SHANGHAI, Dec. 23 (SMM) – On Wednesday, LME lead fell by USD 19.3/mt to close at USD 2,445.5/mt, due to investors’ profit-takings before the Christmas Holiday, and due to pressures from the moderate 3Q GDP in the US. At present, LME lead prices are moving around the 5-day moving average, and SMM expects LME lead prices may fluctuate upward around USD 2,430/mt in the near term. 

In neighboring markets, the US dollar index fell to finally settle at 80.573. Gold futures for February delivery closed USD 1.40 lower at 1,387.40 per ounce; silver futures for March delivery fluctuated between USD 29.23-29.485 per ounce, finally closing 0.90 cents lower at USD 29.385 per ounce.  

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


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