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Home / Metal News / SMM Morning Review - 2010/8/3 Lead Market

SMM Morning Review - 2010/8/3 Lead Market

iconAug 3, 2010 00:00
Source:上海有色金属网

SHANGHAI, August 3 (SMM) – The favorable economic data from the US and positive corporate earnings reports from Europe pushed base metal prices up. LME lead prices reached USD 2,220/mt at the tail of trading, and succeeded to close at a near session high. SMM believes LME lead prices will remain strong along with other base metals in the short term.

In neighboring markets, the euro gained further against the US dollar due to strong corporate earnings reports from the Europe, approaching 1.32, and the US dollar index closed lower at 80.921. Gold futures for December delivery finished up USD 1.50 to end a USD 1,185.40 per ounce. Silver futures for September delivery ended 41.60 cents higher at USD 18.419 per ounce.

Domestic lead market is expected to trade between RMB 16,200-16,400/mt on Tuesday. 

 

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