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SMM Daily Review - 2010/1/8 Lead Market
SHANGHAI, Jan. 11 (SMM) -- Domestic lead market reported mixed views. Price declines of more than USD 100/mt in the LME lead market and falling prices of other domestic base metals depressed the bullish sentiment that has just been built among lead downstream consumers, leaving weak confidence. As a result, downstream producers generally took a wait-and-see attitude. On the other hand, large-size lead producers and traders tried to keep market prices stable, with low selling interest. However, sell-offs of select goods weighed on market sentiment. On Friday, traded prices for low-end goods from Yunnan were around RMB 16,350/mt, while prices of well-known branded products were at RMB 16,800/mt.
SMM believes the staled market conditions will continue in the coming week.
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