SMM Daily Review - 2011/11/4 Lead Market

Nov 7, 2011 09:22

Last Friday, SHFE lead prices opened higher at RMB 15,215/mt, and then fluctuated around the moving average.

SHAGNHAI, Nov. 7 (SMM) -- Last Friday, SHFE lead prices opened higher at RMB 15,215/mt, and then fluctuated around the moving average, finding support at RMB 15,400/mt in the afternoon and rising to RMB 15,400-15,500/mt. Finally, SHFE lead prices closed at RMB 15,480/mt, up RMB 365/mt or 2.4%. Trading volumes increased by 224 lots to 570 lots, and total position 68 lots to 1,932 lots.

In domestic spot markets, well-known brands such as Nanfang, Chihong Zn & Ge and Hanjiang were traded between RMB 15,400-15,450/mt. Spot prices were still below RMB 15,500/mt level in the afternoon, despite rising SHFE lead prices, and with well-known brands traded between RMB 15,430-15,470/mt. Transactions were still quiet due to unclear price trends.

SHFE lead prices

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SMM Daily Review - 2011/11/4 Lead Market

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