SMM Brief Review - 2012/7/11 SHFE Lead Futures-Shanghai Metals Market

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SMM Brief Review - 2012/7/11 SHFE Lead Futures

SMM Insight 05:21:25PM Jul 11, 2012 Source:SMM

SHANGHAI, Jul. 11 (SMM) – As LME lead prices edged down overnight, SHFE lead prices opened RMB 60/mt lower at RMB 14,815/mt Wednesday. At midday, metals started falling but SHFE lead prices showed certain resilience. Market remained cautious before release of China’s 2Q GDP on Friday, with SHFE lead prices moving within the RMB 14,820-14,860/mt range and closing at RMB 14,870/mt, with resistance at the 5-day moving average. Trading volumes were down 8 lots to 96 lots, and positions were up 26 lots to 2,176 lots.
 

Key Words:  SHFE lead   lead price 

SMM Brief Review - 2012/7/11 SHFE Lead Futures

SMM Insight 05:21:25PM Jul 11, 2012 Source:SMM

SHANGHAI, Jul. 11 (SMM) – As LME lead prices edged down overnight, SHFE lead prices opened RMB 60/mt lower at RMB 14,815/mt Wednesday. At midday, metals started falling but SHFE lead prices showed certain resilience. Market remained cautious before release of China’s 2Q GDP on Friday, with SHFE lead prices moving within the RMB 14,820-14,860/mt range and closing at RMB 14,870/mt, with resistance at the 5-day moving average. Trading volumes were down 8 lots to 96 lots, and positions were up 26 lots to 2,176 lots.
 

Key Words:  SHFE lead   lead price