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[Pb] SMM Morning Review - 2009/8/13 Lead Market
SHANGHAI, Aug. 13 (SMM) -- On Wednesday, the exchange rate of EUR against USD rebounded, stimulating metal prices to climb. LME lead prices increased to USD 1,800/mt from USD 1,740/mt. The Fed admitted the US economy is recovering, which stimulated investors to adjust positions actively, so total LME lead positions increased by more than 400 lots. LME lead prices are expected to move around USD 1,800/mt widely in the near future.
Stock markets soared on Wednesday. COMEX Gold Trust closed at USD 952.5/oz, up USD 4.9/oz, and silver prices closed at USD 14.585/oz, up Cents 24/oz. NYMEX crude oil futures prices closed at USD 70.16/barrel, up USD 0.71/barrel.
Lead prices are expected to move around RMB 13,600/mt in domestic spot market.
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