Home / Metal News / SMM Morning Review - 2011/12/26 Lead Market

SMM Morning Review - 2011/12/26 Lead Market

iconDec 26, 2011 09:54
Source:SMM
LME lead prices opened at USD 1,991/mt on Friday, and later rose slightly to move between USD 2,000-2,020/mt.

SHANGHAI, Dec. 26 (SMM) – LME lead prices opened at USD 1,991/mt on Friday, and later rose slightly to move between USD 2,000-2,020/mt as the US dollar index fluctuated down. Since US durable goods orders for November and new home sales were both better than expectations and previous data, LME lead prices touched the USD 2,032/mt high during the European trading market, but met resistance at the 30-day moving average. Finally, LME lead market closed at USD 2,025/mt, up 1.25%. Major European and US exchange markets are closed today for the Christmas holiday.

The US dollar index dipped low but rallied and closed at 79.99, and COMEX silver closed at USD 29.1/oz.

SHFE lead prices should move between RMB 15,200-15,420/mt on Monday without the direction from LME lead market. In domestic spot markets, transactions will remain quiet and spot prices should be RMB 15,200-15,350/mt. Buyers will still purchase on an as-needed basis.

LME lead
lead prices
US dollar index
COMEX silver

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news