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SMM Morning Review - 2010/3/30 Lead Market
SHANGHAI, Mar. 30 (SMM) -- The LME lead market overnight rallied along with rising copper prices to above USD 2,150/mt, but continuing increases in inventories capped the rising room. LME lead prices are expected to fluctuate in the USD 2,130-2,200/mt range.
In neighboring markets, the euro gained against the US dollar, as Greece's move to issue new debt and Australia's further increases of interest rates improved investor confidence. The US dollar index closed at 81.215. Gold futures on the COMEX closed at USD 1,110.30 per ounce, up USD 6. Silver futures for May delivery finished up 48.1 cents to USD 17.387 per ounce.
Domestic lead prices are expected to trade between RMB 15,500-15,650/mt on Tuesday.
To contact the writer on this report: Sherryshi@smm.cn
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