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SMM Morning Review - 2010/1/25 Lead Market
SHANGHAI, Jan. 25 (SMM) -- On January 22nd, LME lead prices ended at USD 2,235/mt, down USD 59.5/mt. Since most base metal prices closed down on January 22nd, and with LME zinc prices plunging by 3.58%, weighing on the LME lead market. LME lead prices fell as low as USD 2,180/mt along with credit tightening concerns over China, and the US new banking regulations. LME lead inventories continued to grow, with stocks up 300 mt to 153,475 mt on January 22nd, a recent high level.
SMM holds a pessimistic view towards lead prices, with prices expected in the USD 2,100-2,280/mt range.
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