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SMM Morning Review - 2010/3/29 Lead Market
SHANGHAI, Mar. 29 (SMM) -- The LME lead market overnight closed above USD 2,100/mt, as an agreement reached between the EU and IMF for Greece’s debt crisis improved market sentiment. The euro rebounded from a 10-month low, and the US dollar weakened in response, with the US dollar index closing at 81.493. Base metal markets will continue to experience fluctuations in the short term since uncertainties remain concerning debt issues in some EU countries. LME lead prices are expected to move between USD 2,100-2,170/mt on Monday.
In neighboring markets, gold futures on the COMEX closed at USD 1,104.30 per ounce, up USD 11.40. Silver futures for May delivery ended up 16.5 cents at USD 16.87 per ounce.
Domestic lead market is expected to trade in the RMB 15,400-15,500/mt range on Monday.
To contact the writer on this report: Sherryshi@smm.cn
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