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SMM Morning Review - 2010/3/19 Lead Market
SHANGHAI, Mar. 19 (SMM) -- The LME lead market overnight closed down to around USD 2,250/mt, meeting resistance at the 60-day moving average of USD 2,270/mt. SMM believes LME lead market will look for direction from technical aspects, with prices expected between USD 2,220-2,280/mt.
In neighboring markets, the euro fell further against the dollar, since market concerns grew over the resolution to Greece’s debt issues. The US dollar index closed at 80.281. Gold futures on the COMEX closed at USD 1,127.50 per ounce, up USD 3.3. Silver futures for May delivery ended up 10.1 cents to USD 17.422 per ounce.
Domestic lead market is expected to trade between RMB 15,550-15,700/mt on Friday.
To contact the writer on this report: Sherryshi@smm.cn
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