SMM Morning Review - 2011/3/7 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/7 Lead Market

SMM Insight 09:23:34AM Mar 07, 2011 Source:SMM

SHANGHAI, Mar.7 (SMM) – Last Friday, the unrest in Libya exacerbated, and crude oil prices rose in response, sparking market concerns that growing inflation may depress economic growth. However, the US February non-farm employment data set a biggest growth since May 2010, boosting LME lead prices to close USD 69.8/mt higher at USD 2,654/mt, above all moving averages.

In neighboring markets, the US dollar index settled at 76.409, down 0.081. Gold futures for April delivery closed USD 12.20 higher at USD 1,428.60 per ounce; silver futures for March delivery closed USD 1 higher at USD 35.327 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,450-17,650/mt on Monday.   


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 - 2011/3/7 Lead Market

SMM Insight 09:23:34AM Mar 07, 2011 Source:SMM

SHANGHAI, Mar.7 (SMM) – Last Friday, the unrest in Libya exacerbated, and crude oil prices rose in response, sparking market concerns that growing inflation may depress economic growth. However, the US February non-farm employment data set a biggest growth since May 2010, boosting LME lead prices to close USD 69.8/mt higher at USD 2,654/mt, above all moving averages.

In neighboring markets, the US dollar index settled at 76.409, down 0.081. Gold futures for April delivery closed USD 12.20 higher at USD 1,428.60 per ounce; silver futures for March delivery closed USD 1 higher at USD 35.327 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,450-17,650/mt on Monday.   


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