SMM Morning Review - 2011/3/28 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/28 Lead Market

SMM Insight 09:18:41AM Mar 28, 2011 Source:SMM

SHANGHAI, Mar.28 (SMM) – Last Friday, the US released the 4Q GDP grew at an annual pace of 3.1%, higher than expected 3.0%, but investors’ concerns increased given that Fitch Ratings lowered the credit rating of Portugal, as well as due to ongoing turmoil in the Middle East. In response, investors increased their wait-and-see sentiment, making the US dollar index to rise and break through 76. As a result, LME lead prices fell by USD 74.9/mt to close at USD 2,669.9/mt, and are expected to fluctuate at around USD 2,660/mt in the short term.

In neighboring markets, the US dollar index was slightly up to settle at 76.133.

SMM expects transactions in domestic lead spot markets to be made between RMB 17,600-17,750/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 - 2011/3/28 Lead Market

SMM Insight 09:18:41AM Mar 28, 2011 Source:SMM

SHANGHAI, Mar.28 (SMM) – Last Friday, the US released the 4Q GDP grew at an annual pace of 3.1%, higher than expected 3.0%, but investors’ concerns increased given that Fitch Ratings lowered the credit rating of Portugal, as well as due to ongoing turmoil in the Middle East. In response, investors increased their wait-and-see sentiment, making the US dollar index to rise and break through 76. As a result, LME lead prices fell by USD 74.9/mt to close at USD 2,669.9/mt, and are expected to fluctuate at around USD 2,660/mt in the short term.

In neighboring markets, the US dollar index was slightly up to settle at 76.133.

SMM expects transactions in domestic lead spot markets to be made between RMB 17,600-17,750/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