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Home / Metal News / SMM Morning Review - 2010/3/31 Lead Market

SMM Morning Review - 2010/3/31 Lead Market

iconMar 31, 2010 00:00
Source:上海有色金属网

SHANGHAI, Mar. 31 (SMM) -- The LME lead market overnight represented strong performance due to technical buying, but failed to sustain the rising trend, since constant increases in inventories and no significant improvement in consumption reduced investor risk appetite. Particular attention should be paid to news concerning impact on lead market from e-bike subsidy program in rural areas in China. LME lead prices are expected to move in the USD 2,110-2,190/mt range, to look for further market direction.

In neighboring markets, the euro fell against the dollar, as new 12-year bonds issued by Greece struggled to find buyers, which depressed the just improved market confidence. The US dollar index closed at 81.397. Gold futures on the COMEX closed at USD 1,105.70 per ounce, down USD 5.8. Silver futures for May delivery ended down 5.7 cents at USD 17.330 per ounce.

Domestic lead market is expected to trade between RMB 15,450-15,600/mt on Wednesday.

To contact the writer on this report: Sherryshi@smm.cn

 

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