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SHMET Spot Market Briefing 20100602-Lead

Metals Price(RMB/T) Change b/c
Copper 53800-54400 -500 b 100/b 250
Aluminum 14780-14820 -120 b 30/b 70
Lead 14500-14700 -100  
1#Zinc 15100-15300 -350 b 75/b 275
0#Zinc 15150-15350 -350 b 125/b 325
Tin 141500-143000 flat  
Nickel 164000-165000 -5000  

 6/2/2010 2:11:38 PM

China's spot Lead is quoted from RMB 14500 to 14700 per tonne, decreasing RMB 100 per tonne. Euro debt crisis has not been relieved yet, and risk aversion mood has diffused all over the LME market, which was bad for the domestic spot lead market. Owing to the dim prospect, most insiders hold bearish attitude toward the near-future market. Traders told us that the sales was poor.

“ We have sold 100 tonnes of goods at RMB 14600 per tonne. Because of the dropping lead price, downstream consumers are inclined to wait and see for lowest price, so our trading condition is not very good.” Some lead trader said to SHMET.

“ Now the bearish news at home and abroad has seriously put much pressure on the confidence of factories. They are very much prudent to purchase goods and their purchasing volume wasn’t large.” Another lead trader said to SHMET.

more metal analysis plz check