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[Pb] SMM Morning Review - 2009/8/18 Lead Market
SHANGHAI, Aug. 18 (SMM) -- On Monday, LME lead prices recollected some losses due to dropping risk aversion of investors and moved around 30-day average line of USD 1,800/mt, and LME lead prices are expected to stabilize around USD 1,830/mt today.
On Monday, the US stocks showed worst performance over past seven weeks due to the disappointing earnings forecast of retailers. In currency market, the US dollar increased. COMEX Gold closed at USD 935.8/oz, down USD 12.9/oz, and silver prices closed at USD 13.975/oz, down Cents 74.7/oz. NYMEX crude oil futures prices closed at USD 66.75/barrel, the lowest level over two weeks.
Lead market was very slim yesterday, and lead prices are expected to move around RMB 13,500/mt in domestic spot market.
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