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[Pb] SMM Morning Review - 2009/8/17 Lead Market
SHANGHAI, Aug. 17 (SMM) -- On Friday, LME lead prices corrected pushed by market sentiment. Positions increased by more than 2,000 lots when lead prices fell to USD 1,850/mt. The attitude of market players towards to economic data will determine future lead prices.
On Friday, the US stock markets dropped, and major indexes end 4-week rise due to increasing market concerns with regard to economic recovery caused by weak consumer confidence index. The rising exchange rate of JPR against EUR and USD signals the risk aversion emerged in the market. COMEX Gold closed at USD 948.7/oz, down USD 7.8/oz, and silver prices closed at USD 14.722/oz, down Cents 26.5/oz. NYMEX crude oil futures prices closed at USD 67.51/barrel, down 4% or USD 3.01/barrel.
Lead prices are expected to move in the RMB 13,500-13,600/mt range in domestic spot market.
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