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SMM Morning Review - 2010/9/25 Lead Market

iconSep 25, 2010 00:00

SHANGHAI, Sep. 25 (SMM) –

The reduced US durable goods orders and flat new home sales in August released on Friday suppressed the US dollar, weakening the US dollar index. Besides, market confidence was boosted from the improving US stocks. In this context, LME lead prices climbed to a four-month high of USD 2,321/mt to finally close at USD 2,295/mt on Friday, above all moving averages. SMM expects that LME lead prices will fluctuate at around USD 2,290/mt in the near future.

In neighboring markets on Friday, the Euro against the US dollar rose to the highest level since this April, and the US dollar index dropped to finally close at 79.273. Gold futures for December delivery closed USD 1.80 higher at USD 1,298.10 per ounce; silver futures for December delivery closed 18.6 cents higher at USD 21.399 per ounce. 

 

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