Home / Metal News / Tin / SMM Morning Review - 2011/12/14 Lead Market
SMM Morning Review - 2011/12/14 Lead Market
Dec 14,2011 09:25CST
smm insight
Source:SMM
LME lead prices overnight moved around USD 2,100/mt after opening at USD 2,106/mt.

SHANGHAI, Dec. 14 (SMM) – LME lead prices overnight moved around USD 2,100/mt after opening at USD 2,106/mt. During European trading session, as Eastern European countries are closely related to the EU, Fitch downgraded its credit outlook for 4 Eastern European countries and revised down its forecast for 2012 GDP growth of the 4 countries, reflecting the deteriorating economic prospects in eurozone. As a result, the euro weakened to 11-month low, and market risk-aversion sentiment rallied. LME lead prices fluctuated down but found support at the 20-day moving average, and closed at USD 2,080/mt. LME lead prices should continue to test at USD 2,100/mt mark.

The US dollar index rose and closed at 79.56, up nearly 1%, and COMEX silver closed at USD 31.26/oz, down USD 0.26/oz.

SHFE lead prices may move between RMB 15,400-15,600/mt on Wednesday, while domestic spot prices should be RMB 15,400-15,550/mt with weak demand.

LME lead
lead prices
COMEX silver
US dollar index

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news