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SMM Daily Review - 2011/12/13 Lead Market
Dec 14,2011 08:57CST
smm insight
Source:SMM
On Tuesday, SHFE lead prices opened RMB 150/mt lower at RMB 15,515/mt and moved around the daily moving average.

SHANGHAI, Dec. 14 (SMM) – On Tuesday, SHFE lead prices opened RMB 150/mt lower at RMB 15,515/mt and moved around the daily moving average, with pressure at the 5 and 10-day moving averages, but found support at the 20-day moving average. Prices moved between RMB 15,520-15,560/mt and finally closed at RMB 15,520/mt, down RMB 140/mt. Trading volumes decreased by 28 lots to 224 lots, and positions decreased by 104 lots to 1,842 lots.

In domestic spot markets, quotations for domestic well-known brands such as Nanfang, Chihong Zn & Ge were firm at RMB 15,550/mt. Other brands such as Chengyuan were traded at RMB 15,510-15,530/mt. In the afternoon, SHFE lead prices remained stable, but quotations for branded lead in spot markets were once cut to RMB 15,500/mt. Goods from Gejiu such as Hexing were traded at RMB 15,470-15,480/mt. Smelters were more reluctant to move goods due to dropping lead prices. Downstream buyers stayed away from the market over bearish outlook. Deals were limited in the market.

SHFE lead prices
spot prices

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