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[Pb] SMM Morning Review - 2009/9/30 Lead Market

iconSep 30, 2009 00:00

SHANGHAI, Sept. 30 (SMM) -- LME lead prices showed relatively strong performance with the absence of positive news in metal markets, as well as under the background of mixed economic data in the US. LME lead prices climbed to USD 2,250/mt, and trading volumes increased as well. The US GDP in 2Q, existing home sales and non-farm employment during late this week will guide the market, and LME lead prices are expected to fluctuate widely during week-long holiday.

    The Dow Jones index closed down 47.16 points, since the weak consumer confidence index offset the positive impact from stabilized housing markets; the US dollar strengthened, as the worse-than-expected US consumer confidence index and sluggish US stock markets reduced market risk preference. COMEX gold closed at USD 994.4/oz, up USD 0.3/oz, and three-month contract silver prices closed at USD 16.178/oz, down Cents 1.7/oz. NYMEX crude oil futures prices closed at USD 66.71/barrel, down USD 0.13/barrel.  . 

    Lead prices are expected to move in the RMB 15,350-15,450/mt range in domestic spot market. 

 

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