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SMM Brief Review - 2011/11/18 SHFE Lead Futures
Nov 18,2011 16:06
CSTsmm insight
Source:SMM
On Friday, SHFE lead 1201 contract prices opened nearly RMB 300/mt lower at RMB 14,900/mt due to dropping LME lead prices overnight.
SHANGHAI, Nov.18 (SMM) –On Friday, SHFE lead 1201 contract prices opened nearly RMB 300/mt lower at RMB 14,900/mt due to dropping LME lead prices overnight, and surged above RMB 15,000/mt. Prices moved between RMB 15,150-15,250/mt through the day with pressure at 10-day moving average, and finally closed at RMB 15,230/mt, down RMB 165/mt. Trading volumes increased by 110 lots to 570 lots, and positions increased by 242 lots to 1,904 lots.
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