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[Pb] SMM Morning Review - 2009/8/25 Lead Market
SHANGHAI, Aug. 25 (SMM) -- On Monday, LME lead prices soared to 11-month high of USD 2,026/mt due to market expectations on declines in China's lead supply, as well as positive metal market sentiment, but total positions increased by more than 300 lots. Technically, LME lead prices will stabilize above USD 1,960/mt in the short term.
Dow Jones index closed up 3.32 points. In currency market, transactions were very weak, and investors adjusted positions before the US releases consumer confidence index and real estate market data during this week. COMEX Gold closed at USD 943.7/oz, up 1%, and silver prices closed at USD 14.195/oz, up Cents 3.1/oz. NYMEX crude oil futures prices closed at USD 74.37/barrel, up USD 0.48/barrel.
Lead prices are expected to move in the RMB 13,800-14,000/mt range in domestic spot market.
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