Metals News
SMM Morning Review - 2011/2/9 Lead Market
smm insight
10:45AM
Source:SMM

SHANGHAI, Feb. 9 (SMM) -- China’s central bank announced to further raise the one-year lending and deposit interest rate for financial institutions by 0.25% since Feb. 9th. Such move is the second interest hike during one month, implying that China is making great efforts to curb inflation. However, the market has absorbed affects from such news. Base metal prices rose, with LME three-month lead contract prices closing at USD 2,565/mt, up USD 30/mt.

The US dollar index fell slightly and closed at 77.993. LME four-month gold prices opened at USD 1,352.9/oz, and closed at USD 1,364.1/oz. LME three-month silver prices closed at USD 30.271/oz, up 92.8 cent per ounce.

 

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