SMM Brief Review - 2012/2/24 SHFE Lead Futures

SMM Insight 05:23:00PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – On Friday, SHFE lead prices rose after opening at RMB 15,950/mt and moved around RMB 16,000/mt. In the afternoon, Pitch Ratings downgraded ratings for three Australian banks, the US dollar index rose slightly as a result, and LME lead prices hovered around RMB 2,150/mt. Thus, SHFE lead prices moved below the moving averages with resistance and dipped to RMB 15,970/mt. However, SHFE lead prices were relatively resilient to declines compared with other base metals and closed at RMB 15,990/mt, up RMB 105/mt. Trading volumes increased by 64 lots to 412 lots and positions were down 54 to 2,024 lots.

Key Words:  SHFE lead   lead price 

SMM Brief Review - 2012/2/24 SHFE Lead Futures

SMM Insight 05:23:00PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – On Friday, SHFE lead prices rose after opening at RMB 15,950/mt and moved around RMB 16,000/mt. In the afternoon, Pitch Ratings downgraded ratings for three Australian banks, the US dollar index rose slightly as a result, and LME lead prices hovered around RMB 2,150/mt. Thus, SHFE lead prices moved below the moving averages with resistance and dipped to RMB 15,970/mt. However, SHFE lead prices were relatively resilient to declines compared with other base metals and closed at RMB 15,990/mt, up RMB 105/mt. Trading volumes increased by 64 lots to 412 lots and positions were down 54 to 2,024 lots.

Key Words:  SHFE lead   lead price