SMM Morning Review - 2011/3/29 Lead Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/29 Lead Market

SMM Insight 09:17:09AM Mar 29, 2011 Source:SMM

SHANGHAI, Mar.29 (SMM) – On Monday, investors kept concerned on Japan’s nuclear crisis, the Middle East unrest, and ongoing European debt crisis, making market sentiment negative. In response, the US dollar index rose and broke through 76, causing LME lead prices to fall USD 29.9/mt and close at USD 2,640/mt. At present, LME lead prices are weighed down below the 10-day moving average and showing weaker upward momentum technically. However, LME lead spot premiums rose to USD 37.75/mt, and so SMM expects any room for LME lead prices falls to be limited in the short term.

In neighboring markets, the US dollar index rose to break through 76, finally settling at 76.265.

SMM expects transactions in domestic lead spot markets to be made between RMB 17,500-17,600/mt on Tuesday.   


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 - 2011/3/29 Lead Market

SMM Insight 09:17:09AM Mar 29, 2011 Source:SMM

SHANGHAI, Mar.29 (SMM) – On Monday, investors kept concerned on Japan’s nuclear crisis, the Middle East unrest, and ongoing European debt crisis, making market sentiment negative. In response, the US dollar index rose and broke through 76, causing LME lead prices to fall USD 29.9/mt and close at USD 2,640/mt. At present, LME lead prices are weighed down below the 10-day moving average and showing weaker upward momentum technically. However, LME lead spot premiums rose to USD 37.75/mt, and so SMM expects any room for LME lead prices falls to be limited in the short term.

In neighboring markets, the US dollar index rose to break through 76, finally settling at 76.265.

SMM expects transactions in domestic lead spot markets to be made between RMB 17,500-17,600/mt on Tuesday.   


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