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SMM Daily Review - 2011/8/12 Lead Market
Aug 15,2011 09:19CST
price review forecast
Source:SMM
Last Friday, SHFE 1110 lead contract prices opened higher at RMB 16,740/mt, and then fluctuated narrowly around the moving average,

SHAGNHAI, Aug. 15 (SMM) -- Last Friday, SHFE 1110 lead contract prices opened higher at RMB 16,740/mt, and then fluctuated narrowly around the moving average, meeting resistance at the 10-day moving average. Finally, SHFE 1110 lead contract prices closed at RMB 16,660/mt. Trading volumes decreased by 612 lots to 1,370 lots, and total positions increased slightly by 80 lots to 4,666 lots.

In domestic spot markets, spot prices rose RMB 200/mt from the previous trading day. The brand Chihong Zn & Ge was generally quoted at RMB 16,300/mt, with discounts of negative RMB 380-400/mt against SHFE 1110 lead contract prices. Other brands such as Jinguan were mostly quoted at RMB 16,250/mt. Market players were cautious ahead of the weekend, keeping transactions quiet. In the afternoon, transactions did not improve, with quotations remained relatively unchanged but traders increasing purchases.

 

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