SMM Morning Review - 2011/12/30 Lead Market

Dec 30, 2011 08:59

LME lead prices overnight opened at USD 1,962/mt and moved weakly.

SHANGHAI, Dec. 30 (SMM) – LME lead prices overnight opened at USD 1,962/mt and moved weakly. During European trading session, sales of Italian government bonds were above expectations, and yields for the country’s 3-year and 10-year bonds fell compared with November. Besides, Chicago Purchasing Managers Index for December turned out better than expected. Thus, LME lead prices rebounded to USD 2,003/mt due to the positive news, and closed at USD 1,996/mt, up USD 33.5/mt, or 1.7%. LME lead price should test USD 2,000/mt today.

The US dollar index rose to new high of 80.85 and closed at 80.4, and COMEX silver closed at USD 27.31/oz, up 0.3%.

SHFE lead prices may move between RMB 15,100-15,350/mt on Friday. In domestic spot markets, transactions will be modest, and spot prices will be RMB 15,150-15,250/mt.

LME lead

lead prices

US dollar index

COMEX silver

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SMM Morning Review - 2011/12/30 Lead Market

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