SMM Morning Review - 2011/3/9 Lead Market-Shanghai Metals Market

Hot Keywords

  • Air pollution
  • Inventory data
  • Zinc
  • Nickel
  • Market commentary
  • Copper
  • nickel laterite
  • hydrogenation stations
  • Aluminium
  • Nickel ore
  • Futures movement
  • Macroeconomics
  • Production data
  • Morning comments
  • Tin

SMM Morning Review - 2011/3/9 Lead Market

SMM Insight 09:29:55AM Mar 09, 2011 Source:SMM

SHANGHAI, Mar.9 (SMM) – On Tuesday, rising US stocks and crude prices falling from high levels boosted bargain-hunting in the LME lead market, and LME lead prices rebounded in response after falling below moving averages to USD 2,530/mt, finally closing USD 10/mt up at USD 2,590/mt. At present, LME lead prices are fluctuating between the 5 and 10-day moving averages. Close attention should be paid to recent macro politics and economy, which will have an impact on base metals markets. In this context, SMM expects LME lead prices may fluctuate between USD 2,560-2,590/mt in the short term.

In neighboring markets, the US dollar index settled at 76.838, up 0.327. Gold futures for April delivery closed USD 7.30/mt lower at USD 1,427.20 per ounce; silver futures for May delivery closed USD 0.207/mt lower at USD 35.658 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,350-17,450/mt on Wednesday.   


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 - 2011/3/9 Lead Market

SMM Insight 09:29:55AM Mar 09, 2011 Source:SMM

SHANGHAI, Mar.9 (SMM) – On Tuesday, rising US stocks and crude prices falling from high levels boosted bargain-hunting in the LME lead market, and LME lead prices rebounded in response after falling below moving averages to USD 2,530/mt, finally closing USD 10/mt up at USD 2,590/mt. At present, LME lead prices are fluctuating between the 5 and 10-day moving averages. Close attention should be paid to recent macro politics and economy, which will have an impact on base metals markets. In this context, SMM expects LME lead prices may fluctuate between USD 2,560-2,590/mt in the short term.

In neighboring markets, the US dollar index settled at 76.838, up 0.327. Gold futures for April delivery closed USD 7.30/mt lower at USD 1,427.20 per ounce; silver futures for May delivery closed USD 0.207/mt lower at USD 35.658 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,350-17,450/mt on Wednesday.   


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