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[Pb] CBI Morning Review - 2009/7/22 Lead Market
SHANGHAI, July 22 (CBI China) -- On Tuesday, the U.S. Federal Reserve Board (FED) Chairman Ben Bernanke reaffirmed his attitude to against inflation and said the US economy recovered slowly, which weighed on metal markets. However, base metal prices showed mixed performance, and LME lead price continued to fluctuate in the USD 1,600-1,680/mt range.
The U.S. stocks closed higher but with limited upward room. Caterpillar announced its solid earnings and a portion of investors took profits. COMEX gold futures prices were dampened by remarks of the U.S. Federal Reserve Board (FED) Chairman Ben Bernanke, with quiet transactions. Silver price fell by Cents 14.7/oz to USD 13.478/oz. NYMEX crude oil futures prices rose by Cents 74/barrel, with fluctuated transactions. Market players were waiting for economic recovery but adopted a cautious attitude towards the process of the recovery.
Lead prices are expected to move around RMB 13,300-13,400/mt in domestic spot market.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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