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[Pb] SMM Morning Review - 2009/9/15 Lead Market
SHANGHAI, Sept. 15 (SMM) -- LME lead prices bottomed out on Monday and tended to consolidate in the USD 2,025-2,154/mt range. However, market confidence remained weak, and investors preferred to wait for the demand recovery after summer and are easily dampened by negative news.
On Monday, the US stocks closed up, and investors were stimulated by the acquisition activities, but the US dollar remained weak. COMEX gold closed down slightly, but investors were keen on holding gods, helping gold futures prices remain above USD 1,000/oz, and three-month contract silver prices closed at USD 16.623/oz, down Cents 7.7/oz. NYMEX crude oil futures prices closed down USD 0.43/barrel due to great inventory pressure.
Lead prices are expected to find support at RMB 15,500/mt in domestic spot market.
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