Home / Metal News / Lead / SMM Daily Review - 2012/3/28 Lead Market
SMM Daily Review - 2012/3/28 Lead Market
Mar 29,2012 08:54CST
smm insight
Source:SMM
On Wednesday, SHFE lead prices opened slight lower at RMB 15,570/mt with resistance at the 5-day moving average.

SHANGHAI, Mar. 29 (SMM) – On Wednesday, SHFE lead prices opened slight lower at RMB 15,570/mt with resistance at the 5-day moving average, and moved between RMB 15,580-15,620/mt. In the afternoon, SHFE lead prices fell and dipped as low as RMB 15,450/mt, the lowest point of the year, with prices finally closing at RMB 15,475/mt, down RMB 150/mt. Trading volumes increased by 168 lots to 532 lots and positions were up 200 lots to 2,280 lots.

Domestic spot prices fell by RMB 50/mt from the previous trading day. Well-known brands such as Chihong Zn & Ge and Yuguang were quoted around RMB15,700/mt, and quotation for Shenqian was mainly around RMB 15,680/mt. In the afternoon, spot prices hovered between RMB 15,670-15,700/mt as SHFE lead prices fell further. Trading market was quiet with both sellers and buyers waiting on sidelines, leaving sparse transactions made.
 

SHFE lead
lead price

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news