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Home / Metal News / SMM Morning Review - 2011/12/07 Lead Market

SMM Morning Review - 2011/12/07 Lead Market

Dec 7, 2011 09:45

LME lead prices overnight opened at USD 2,095/mt.

SHANGHAI, Dec. 07 (SMM) – LME lead prices overnight opened at USD 2,095/mt. During Asian trading session, S&P placed 15 eurozone countries on CreditWatch negative, putting on pressure on market moods. As a result, LME lead prices moved weakly between USD 2,080-2,100/mt. Later, with the positive expectation on the EU summit and the efforts of eurozone leaders to downplay the S&P’s warning, market sentiments turned better. LME lead prices moved up to USD 2,135/mt and closed at USD 2,125/mt, up 1.29%. LME lead inventories kept reducing by 1,150 mt to 365,225 mt. LME lead prices should remain fluctuation today.

The US dollar index rolled back after rising up and closed at 78.49, down 0.11, and COMEX silver closed at USD 32.74/oz, up USD 0.37/oz, or 1.15%.

SHFE lead prices may move between RMB 15,500-15,900/mt on Wednesday, and domestic spot market should be RMB 15,450-15,600/mt.

LME lead prices

SHFE lead prices

US dollar index

COMEX silver

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM Morning Review - 2011/12/07 Lead Market

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