[Pb] CBI Morning Review - 2008/12/19 Lead Market-Shanghai Metals Market

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[Pb] CBI Morning Review - 2008/12/19 Lead Market

Data Analysis 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, Dec. 19 (CBI China) -- LME Market

 

Close

(USD/mt)

Premium/Discount

Vol

(lot)

Position

(lot)

Inventory

(mt)

3-mth Contract

Spot – 3 mth

Nov. Average

1,298

-8.5

21,400

75,827

41,600

Dec. 18th

930

-8

11,413

71,192

43,850

Summary
Demand for metals has declined significantly due to the global economic slowdown. On Thursday, metals prices fell, and LME copper fell below USD 3,000/mt, to a record low during the past four years, LME aluminum fell to the lowest level since March 2003, LME lead fell to USD 920/mt, not below the lowest in the past, the volume and position were all weak. Domestic lead prices continued to fall, however the low-cost goods disappeared in the afternoon with the low-enc closing prices of RMB 9,200-9,350/mt. The suppliers were reluctant to sell, and the downstream had low interest in purchase, as a result the overall transactions were weak.

 
Copyright © 2008, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

[Pb] CBI Morning Review - 2008/12/19 Lead Market

Data Analysis 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, Dec. 19 (CBI China) -- LME Market

 

Close

(USD/mt)

Premium/Discount

Vol

(lot)

Position

(lot)

Inventory

(mt)

3-mth Contract

Spot – 3 mth

Nov. Average

1,298

-8.5

21,400

75,827

41,600

Dec. 18th

930

-8

11,413

71,192

43,850

Summary
Demand for metals has declined significantly due to the global economic slowdown. On Thursday, metals prices fell, and LME copper fell below USD 3,000/mt, to a record low during the past four years, LME aluminum fell to the lowest level since March 2003, LME lead fell to USD 920/mt, not below the lowest in the past, the volume and position were all weak. Domestic lead prices continued to fall, however the low-cost goods disappeared in the afternoon with the low-enc closing prices of RMB 9,200-9,350/mt. The suppliers were reluctant to sell, and the downstream had low interest in purchase, as a result the overall transactions were weak.

 
Copyright © 2008, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040