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[Pb] CBI Morning Review - 2009/7/16 Lead Market
SHANGHAI, July 16 (CBI China) -- The positive enterprise fiscal report restricted the demand for risk aversion, and LME lead price closed at USD 1,645/mt on Wednesday following other base metal prices trend, up 3%; discounts for spot-month contract to three-month contract narrowed for the first time during July, but both trading volumes and positions continued to fluctuate widely.
The exchange rate of EUR to USD rose by 1%, dragging down the US dollar index to 79.46. The US monthly rate of CPI in June rose by 0.7%, which continued to drive up the attractiveness of COMEX Gold Trust hedging inflation. Silver prices increased by Cents 35.5/oz to USD 13.208/oz.
Traded prices are expected to be around RMB 13,300/mt for lead in domestic spot market.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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