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.