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[Pb] SMM Morning Review - 2009/9/28 Lead Market
SHANGHAI, Sept. 28 (SMM) -- On Friday, the weak US durable goods orders data triggered the sell-off activities in base metal markets, but the short-covering and purchasing interest helped LME lead prices stabilize at USD 2,164/mt, and lead market will become lackluster before China’s National Day holiday, and LME lead prices are expected to move around USD 2,214/mt.
On Friday, the Dow Jones index has fallen for three consecutive days to 42.25 points in view of disappointing US durable goods orders and the real estate data; in currency market, the US dollar fluctuated narrowly, while the Yen soared. Previously, central banks of most countries said they will reduce the size of emergency leading plans along with stabilized financial markets. COMEX gold closed down USD 7.3/oz at USD 991.6/oz given shortages of spot demand, and three-month contract silver prices closed at USD 16.06/oz, down Cents 23.5/oz. NYMEX crude oil futures prices closed at USD 66.02/barrel, up USD 0.13/barrel.
Lead prices are expected to move around RMB 15,300/mt in domestic spot market.
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