Metals News
SMM Morning Review - 2011/3/7 Lead Market
smm insight
09:23AM
Mar 7,2011
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.   


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