SMM Brief Review - 2012/1/9 SHFE Lead Futures-Shanghai Metals Market

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SMM Brief Review - 2012/1/9 SHFE Lead Futures

SMM Insight 03:50:44PM Jan 09, 2012 Source:SMM

SHANGHAI, Jan. 9 (SMM) – SHFE lead prices rose to RMB 15,240/mt briefly after opening at RMB 15,110/mt on Monday. However, prices then moved down due to resistance at the 10-day moving average and the lack of upward momentum. After 10: 00 in the morning, SHFE lead prices plunged to RMB 15,100/mt with SHFE copper prices, but then rallied slightly influenced by the rising domestic stocks and moved between RMB 15,130-15,180/mt. SHFE lead prices finally closed at RMB 15,175/mt, down RMB 100/mt . Trading volumes increased by 58 lots to 458 lots, and positions decreased by 32 lots to 1,068 lots.

SMM Brief Review - 2012/1/9 SHFE Lead Futures

SMM Insight 03:50:44PM Jan 09, 2012 Source:SMM

SHANGHAI, Jan. 9 (SMM) – SHFE lead prices rose to RMB 15,240/mt briefly after opening at RMB 15,110/mt on Monday. However, prices then moved down due to resistance at the 10-day moving average and the lack of upward momentum. After 10: 00 in the morning, SHFE lead prices plunged to RMB 15,100/mt with SHFE copper prices, but then rallied slightly influenced by the rising domestic stocks and moved between RMB 15,130-15,180/mt. SHFE lead prices finally closed at RMB 15,175/mt, down RMB 100/mt . Trading volumes increased by 58 lots to 458 lots, and positions decreased by 32 lots to 1,068 lots.