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SMM Morning Review - 2011/11/18 Lead Market
Nov 18,2011 09:37CST
smm insight
Source:SMM
LME lead prices overnight moved between USD 2,000-2,030/mt after opening at USD 2,030/mt.

SHANGHAI, Nov. 18 (SMM) – LME lead prices overnight moved between USD 2,000-2,030/mt after opening at USD 2,030/mt. During European trading session, LME lead prices dropped below USD 2,000/mt to move between USD 1,985-2,015/mt along with lingering concerns over European debt issues and weak economic data in Euro-zone, despite the better-than-expected US housing starts and claims for unemployment benefits. Finally, LME lead prices closed at USD 1,985/mt, down USD 52/mt, or as much as 2.5%. Spanish bond yields climbed up sharply after Fitch Ratings waned on the previous trading day that US banks could be hit hard for spreading of European debt crisis, intensifying investors’ concerns that European debt crisis might spread to core countries. LME lead prices should move between USD 1,970-2,030/mt.

The US dollar index still moved highly around 78 and closed at 78.3.

SHFE 1201 lead contract prices should move between RMB 14,900-15,400/mt, and domestic spot prices should be RMB 15,100-15,400/mt on Friday.

LME lead prices

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