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SMM Morning Review - 2010/6/12 Lead Market
SHANGHAI, June 12 (SMM) – On Friday, LME lead prices moved around the 10-day moving average, reaching as high as USD 1,710/mt, but failed to find a solid foot at above USD 1,700/mt at the closing. LME lead prices are closely tied to economy, and whether or not LME lead prices will climb higher depends on outlook for economy.
In neighboring markets, the euro dropped slightly against the US dollar. The euro dropped to 1.2045 due to the weaker-than-expected US retails data, and later pared some losses along with better-than-expected US consumer confidence index. As a result, the US dollar index closed at 87.282. Gold futures for August delivery closed at USD 1,230.20 per ounce, up USD 8. Silver futures for July delivery finished 12 cents lower at USD 18.231 per ounce.
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