SMM Morning Review - 2011/3/11 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/11 Lead Market

SMM Insight 09:10:35AM Mar 11, 2011 Source:SMM

SHANGHAI, Mar.11 (SMM) – China unexpectedly reported a trade deficit of USD 7.3 billion in February; the US dollar index rebounded to above 77; crude oil prices fell slightly. The above factors jointly affected metals markets, resulting in mixed performances in LME base metals markets. LME lead prices closed USD 50/mt down at USD 2,430/mt after hitting USD 2,385.2/mt which was the lowest over the past half and one months. Politics should continue to weigh down metals prices, and LME lead prices are expected to fluctuate between USD 2,400-2,450/mt in the short term.

In neighboring markets, gold futures for April delivery closed USD 17.1 lower at USD 1,412.5 per ounce; silver futures for May delivery closed 98.1 cents lower at USD 35.066 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,000-17,150/mt on Friday.   


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 - 2011/3/11 Lead Market

SMM Insight 09:10:35AM Mar 11, 2011 Source:SMM

SHANGHAI, Mar.11 (SMM) – China unexpectedly reported a trade deficit of USD 7.3 billion in February; the US dollar index rebounded to above 77; crude oil prices fell slightly. The above factors jointly affected metals markets, resulting in mixed performances in LME base metals markets. LME lead prices closed USD 50/mt down at USD 2,430/mt after hitting USD 2,385.2/mt which was the lowest over the past half and one months. Politics should continue to weigh down metals prices, and LME lead prices are expected to fluctuate between USD 2,400-2,450/mt in the short term.

In neighboring markets, gold futures for April delivery closed USD 17.1 lower at USD 1,412.5 per ounce; silver futures for May delivery closed 98.1 cents lower at USD 35.066 per ounce.

SMM expects transactions in domestic lead markets to be made between RMB 17,000-17,150/mt on Friday.   


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