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SMM Morning Review - 2010/1/8 Lead Market
SHANGHAI, Jan. 8 (SMM) -- LME lead prices ended greatly lower on January 7th after higher opening, plagued by falling prices of other base metals, with prices finally closing at USD 2,563/mt. Falling prices were due largely to profit-taking. Moreover, market fears of tightening monetary policy in China were also the reason behind price declines.
SMM expects LME lead prices to experience corrections in the short term, with prices estimated to fluctuate in the USD 2,480-2,580/mt range.
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