SHANGHAI, Jun. 21 (SMM) – On Thursday, SHFE lead prices gapped lower at RMB 14,950/mt due to the disappointing result of Fed’s meeting. In the morning, China’s June PMI was reported down to 48.1 according to HSBC, a new low in seven months, depressing market sentiments. As a result, SHFE lead prices moved narrowly between RMB 14,920-14,950/mt and finally closed at RMB 14,890/mt, down RMB 175/mt, or 1.16%. Trading volumes were up 152 lots to 208 lots, while positions were down 64 lots to 2,092 lots.