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[Pb] SMM Morning Review - 2009/11/2 Lead Market
SHANGHAI, Nov. 2 (SMM) -- As market confidence remained weak, so investors switched their attention to safe assets due to uncertain economy, and the US dollar strengthened and the stock markets slumped as a result. In this context, LME lead prices slipped, and are expected to move in the USD 2,200-2,400/mt range.
The US stock markets dropped, and Dow Jones index closed down 249.85 points; the US dollar and the Japanese yen strengthened, and the US dollar index increased by 0.6% to 76.401 points; COMEX gold for December delivery closed at USD 1040.4/oz, down USD 6.7/oz, and silver for December delivery closed at USD 16.255/oz, down Cents 40/oz. NYMEX crude oil for December delivery closed at USD 77/brarrel, down USD 2.87/barrel.
Domestic spot lead prices are expected to be around RMB 15,700/mt today.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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