SMM Brief Review - 2012/7/18 SHFE Lead Futures-Shanghai Metals Market

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SMM Brief Review - 2012/7/18 SHFE Lead Futures

SMM Insight 04:20:34PM Jul 18, 2012 Source:SMM

SHANGHAI, Jul. 18 (SMM) – Since the Fed’s chairman did not mention QE3 at his speech overnight, SHFE lead prices moved narrowly within a RMB 30/mt band after opening at RMB 14,970/mt Wednesday, with strong resistance at RMB 15,000/mt. In the afternoon, SHFE lead fell to RMB 14,955/mt due to the declines in Chinese stock markets and LME lead prices, but stabilized later with prices closing at RMB 14,960/mt. Trading volumes were down 206 lots to 180 lots, while positions rose 118 lots to 2,520 lots.

Key Words:  lead price   SHFE lead 

SMM Brief Review - 2012/7/18 SHFE Lead Futures

SMM Insight 04:20:34PM Jul 18, 2012 Source:SMM

SHANGHAI, Jul. 18 (SMM) – Since the Fed’s chairman did not mention QE3 at his speech overnight, SHFE lead prices moved narrowly within a RMB 30/mt band after opening at RMB 14,970/mt Wednesday, with strong resistance at RMB 15,000/mt. In the afternoon, SHFE lead fell to RMB 14,955/mt due to the declines in Chinese stock markets and LME lead prices, but stabilized later with prices closing at RMB 14,960/mt. Trading volumes were down 206 lots to 180 lots, while positions rose 118 lots to 2,520 lots.

Key Words:  lead price   SHFE lead