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SMM Morning Review - 2011/12/19 Lead Market
Dec 19,2011 09:40CST
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Source:SMM
LME lead prices overnight moved between USD 1,990-2,010/mt after opening at USD 1,976/mt.

SHANGHAI, Dec. 19 (SMM) – LME lead prices overnight moved between USD 1,990-2,010/mt after opening at USD 1,976/mt. During European trading session, Moody’s forecast a 13.8% increase of Portugal unemployment rate in 2012, and expected the country’s GDP would contract by 2% in 2011, and by 4% in 2012. Then, Fitch Ratings put the grades of nations including Belgium, Spain and Italy on review for a downgrade. Although Fitch Ratings confirmed AAA rating for France, it changed its outlook on France to negative. The negative outlook from rating agencies brought great pressure to the market, and being ahead of week end, most investors were cautious. As a result, LME lead prices slumped to USD 1,960/mt and closed at 1,958/mt, down USD 27.3/mt, or 1.37%. LME lead prices should move between USD 1,980-2,020/mt today.

The US dollar index fluctuate around 80 and closed at 80.16, and COMEX silver closed at USD 29.67/oz, up 1.27%.

SHFE 1202 lead contract prices may move between RMB 14,800-15,300/mt on Monday, and domestic spot prices should be RMB 15,900-15,200/mt.

LME lead
lead prices
COMEX silver
US dollar index

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