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SMM Morning Review - 2010/7/5 Lead Market
SHANGHAI, July 5 (SMM) – The US reported mixed employment data, and base metals market closed higher last Friday, but with limited gains. LME lead prices rallied USD 30/mt to end at USD 1,760/mt. Technically, LME lead prices stopped falling, and with upward momentum available. The US dollar fell against the euro following the data, with the US dollar index closing at 84.365.
Gold futures for August delivery closed USD 1 higher at USD 1,207.70 per ounce. Silver futures for September delivery finished down 7.1 cents at USD 17.719 per ounce.
SMM expects domestic lead market is expected to trade in the RMB 14,500-14,800/mt range on Monday.
To contact the writer on this report: xiaqing@smm.cn
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