Home / Metal News / Zinc / SMM Morning Review - 2011/12/29 Lead Market
SMM Morning Review - 2011/12/29 Lead Market
Dec 29,2011 09:13CST
smm insight
LME lead prices tested the USD 2,000/mt mark during Asian trading session.

SHANGHAI, Dec. 29 (SMM) – LME lead prices tested the USD 2,000/mt mark during Asian trading session overnight as market remained cautious due to a lack of major news after the Christmas holiday. During European trading session, although yield of Italian 6-month government bond turned out to be above expectations, ECB balance sheet soared to a record EUR 2.73 trillion later, overshadowing previous positive news and dragging down stocks and non-US currencies. Thus, LME lead prices fluctuated down, and finally closed at USD 1,963/mt, down USD 62.5/mt, decreased by over 3%. LME lead prices should move between USD 1,960-2,000/mt today.

The US dollar index surged above 80 and closed at 80.59, and COMEX silver closed at USD 27.23/oz, down USD 1.5/oz, or 5.24%.

SHFE lead prices, influenced by LME lead prices, may move between RMB 14,800-15,200/mt on Thursday. Transactions will remain quiet in domestic spot market, and spot prices should be RMB 14,900-15,150/mt.

LME lead
lead prices
US dollar
COMEX silver

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