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SMM Morning Review - 2010/6/21 Lead Market
SHANGHAI, June 21 (SMM) – Last Friday, LME lead prices continued to fluctuate, and dropped as low as USD 1,720/mt before ending at USD 1,745/mt. No major economic data will be available on Monday, and if the euro remains stable, LME lead prices will test USD 1,800/mt.
In neighboring markets, the euro fell slightly against the US dollar, but remained at a 3-week high. A gain of 2.1% over the past week was the best weekly performance of the euro since May 2009. The US dollar index closed at 85.564. Gold futures for August delivery ended at USD 1,258.30 per ounce, up USD 9.60. Silver futures for July delivery finished 40.80 cents higher at USD 19.184 per ounce.
Domestic lead market is expected to trade between RMB 14,250-14,450/mt on Monday.
To contact the writer on this report: xiaqing@smm.cn
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