SMM Morning Review - 2011/12/21 Lead Market

Dec 21, 2011 09:11

LME lead prices overnight moved weakly around USD 1,950/mt after opening at USD 1,942/mt.

SHANGHAI, Dec. 21 (SMM) – LME lead prices overnight moved weakly around USD 1,950/mt after opening at USD 1,942/mt. During European trading session, both US housing starts for November and German consumer confidence were reported better than expected. Coupled with successful Spanish bond auction, LME lead prices touched USD 1,991/mt high but fell slightly at tail of trading with pressure at the daily moving average, and finally closed at USD 1,965/mt. LME lead prices should move at USD 1,950-2,000/mt today.

The US dollar index slumped and closed at 79.83, and COMEX silver closed at USD 29.54/oz, up USD 0.66/oz.

SHFE 1202 lead contract prices may move between RMB 15,100-15,450/mt on Wednesday, and domestic spot prices should be RMB 15,150-15,300/mt. Transactions will be modest.

LME lead

lead prices

US dollar index

COMEX silver

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SMM Morning Review - 2011/12/21 Lead Market

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