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Home / Metal News / SMM Morning Review - 2011/2/22 Lead Market

SMM Morning Review - 2011/2/22 Lead Market

iconFeb 22, 2011 09:45
Source:SMM

SHANGHAI, Feb. 22 (SMM) – On Monday, investors' appetite was negatively affected by the Arab countries unrest, so performance of LME base metals markets was mixed. In this context, LME lead prices rose to USD 2,664/mt and then fell, finally closing USD 3.8/mt lower at USD 2,651.3/mt, but still above moving averages. At present, LME lead prices show upward momentum technically, and are expected to fluctuate between USD 2,630-2,660/mt in the short term.

In neighboring markets, the US dollar index kept fluctuating weakly at low levels, and fell to a low of 77.483 after four consecutive days of declines, finally closing at 77.663.

SMM expects transactions in domestic lead markets to be made between RMB 17,300-17,650/mt on Tuesday.   

 

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lead Pb

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