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SMM Brief Review - 2011/11/15 SHFE Lead Futures
Nov 15, 2011 15:51Source:SMM
SHFE lead prices opened lower at RMB 15,455/mt and followed a weak track between RMB 15,350-15,400/mt on Tuesday.
SHANGHAI, Nov. 15 (SMM) – SHFE lead prices opened lower at RMB 15,455/mt and followed a weak track between RMB 15,350-15,400/mt on Tuesday. In the afternoon, prices moved down to RMB 15,320-15,370/mt due to the further drop of LME lead prices, but gained support at 10-day moving average, finally closing at RMB 15,325/mt, down RMB 195/mt, or 1.26%. Trading volumes decreased slightly by 18 lots to 436 lots, and positions dropped by 156 lots to 1,692 lots, with strong short covering of 5.96%.
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