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[Pb] SMM Morning Review - 2009/9/7 Lead Market
SHANGHAI, Sept. 7 (SMM) -- The environmental inspections at Chinese lead smelters continued to drive up LME lead prices to a one-year high of USD 2,300/mt. On Monday, LME lead prices faced corrections when the American financial markets were closed, and speculators were full of confidence that LME lead prices will soar to USD 2,400/mt.
On Friday, the US stocks closed high, as investors only focused their attentions on positive non-farm employment data, and Dow Jones index closed at 9441.27, up 96.66 points. COMEX Gold closed down USD 1/oz and strong investment demand failed to pushed up gold prices to USD 1,000/oz, and silver prices hit a 13-month high, but then closed at USD 16.285/oz, down Cents 0.5/oz. NYMEX crude oil futures prices closed at USD 68.02/barrel, up 0.09%.
Lead prices are expected to move around RMB 16,000/mt in domestic spot market.
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