SMM Morning Review - 2011/3/3 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/3 Lead Market

SMM Insight 09:13:14AM Mar 03, 2011 Source:SMM

SHANGHAI, Mar.3 (SMM) – On Wednesday, despite a weaker US dollar index which hit a low of 76.529, LME lead prices closed USD 25.8/mt lower at USD 2,524.5/mt due to rising crude oil prices and low US stocks. LME lead prices secure support at the 60-day moving average currently, but are hard to move up in the near future technically. In this context, SMM expects LME lead prices to fluctuate between USD 2,520-2,560/mt in the short term.

In neighboring markets, gold futures for April delivery closed USD 6.5 higher at USD 1,437.7 per ounce; silver futures for March delivery closed 40.8 cents higher at USD 34.835 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,300-17,600/mt 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 

SMM Morning Review - 2011/3/3 Lead Market

SMM Insight 09:13:14AM Mar 03, 2011 Source:SMM

SHANGHAI, Mar.3 (SMM) – On Wednesday, despite a weaker US dollar index which hit a low of 76.529, LME lead prices closed USD 25.8/mt lower at USD 2,524.5/mt due to rising crude oil prices and low US stocks. LME lead prices secure support at the 60-day moving average currently, but are hard to move up in the near future technically. In this context, SMM expects LME lead prices to fluctuate between USD 2,520-2,560/mt in the short term.

In neighboring markets, gold futures for April delivery closed USD 6.5 higher at USD 1,437.7 per ounce; silver futures for March delivery closed 40.8 cents higher at USD 34.835 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,300-17,600/mt 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