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SMM Morning Review - 2011/2/11 Lead Market
Feb 11,2011 10:42CST
smm insight

SHANGHAI, Feb. 11 (SMM) –On Thursday, the US Department of Labor published that the initial jobless claims for the week ending on February 2nd fell to the lowest level since July 5th 2008; the US dollar index was up to above 78; the euro against the US dollar was down negatively affected by the turmoil in Egypt. In addition, Chinese investors were still purchasing weakly shortly after the Chinese New Year holiday. In response, LME lead futures for three-month delivery closed USD 45.3/mt lower at USD 2,500/mt on Thursday.   

In neighboring markets, the US dollar index settled at 78.215, up 0.555. Gold futures for April delivery closed USD 3 lower at USD 1362.50 per ounce; silver futures for March delivery closed 18.2 cents lower at USD 30.094 per ounce.

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