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SMM Morning Review - 2011/12/16 Lead Market
Dec 16,2011 09:42CST
smm insight
LME lead prices overnight opened at USD 2,004/mt.

SHANGHAI, Dec. 16 (SMM) – LME lead prices overnight opened at USD 2,004/mt. Later, eurozone PMI Services, PMI Manufacturing and composite PMI for December were reported higher than expectation, and the US Initial Jobless Claims and Continuing Claims last week were lower than expected. Besides, the bid rate for Spain’s EUR 6.028 billion bonds was lowered during the European trading session. However, as market still focused on whether rating agencies will downgrade  ratings of eurozone countries, cautious sentiment still dominated the market. Thus, LME lead prices hovered around USD 2,000/mt and closed at USD 1,985/mt. LME lead prices should test at USD 2,000/mt today.

The US dollar index closed at 80.23, down 0.3, and COMEX silver dipped low and rallied with prices closing at USD 29.3/oz, up USD 0.37/oz, an increase of 1.26%.

SHFE lead prices may move between RMB 15,000-15,300/mt on Friday, and domestic spot prices should be RMB 15,100-15,250/mt with lower buying interest ahead of weekend.

LME lead
lead prices
COMEX silver
US dollar index

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