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SMM Morning Review - 2011/12/5 Lead Market
Dec 5,2011 09:29CST
smm insight
Source:SMM
LME lead prices opened at USD 2,090/mt and fluctuated narrowly last Friday.

SHANGHAI, Dec. 5 (SMM) – LME lead prices opened at USD 2,090/mt and fluctuated narrowly last Friday. However, as market predicted US employment data would be better than expected, prices increased by as much as USD 30/mt after domestic market closed. During European trading session, US non-farm payrolls data was reported to rise by 120,000, higher than the expected 80,000. Meanwhile, US unemployment rate surprisingly fell to 8.6%, the lowest point since March 2009. As a result, LME lead prices moved up to touch USD 2,144/mt, a new high since September 22, but fell back at the tail of trading and closed at USD 2,106/mt. LME lead prices should move at USD 2,100/mt today.

The US dollar index surged but rolled back and closed at 78.67, and COMEX silver closed at USD 32.7/oz, down USD 0.2/oz.

SHFE lead prices should move between RMB 15,500-15,900/mt on Monday, and domestic spot prices should be RMB 15,600-15,800/mt, with sparse deals expected at the high-end.

LEM lead
SHFE lead
lead prices
US dollar index
COMEX silver

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