SMM Brief Review - 2012/7/26 SHFE Lead Futures-Shanghai Metals Market

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SMM Brief Review - 2012/7/26 SHFE Lead Futures

SMM Insight 04:54:16PM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – SHFE lead prices opened slightly higher at RMB 14,853/mt and inched up July 26 due to the positive news that ESM may obtain banking license. However, SHFE lead prices came under resistance at the 5-day moving average and only moved weakly around RMB 14,780/mt with longs taking advantage, and ended the day at RMB 14,790/mt after dipping to a low of RMB 14,705/mt influenced by the decline in Shanghai Stock Exchange Composite Index. Trading volumes were down 68 lots to 204 lots, while positions increased 54 lots to 2,792 lots.

Key Words:  lead price   SHFE lead 

SMM Brief Review - 2012/7/26 SHFE Lead Futures

SMM Insight 04:54:16PM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – SHFE lead prices opened slightly higher at RMB 14,853/mt and inched up July 26 due to the positive news that ESM may obtain banking license. However, SHFE lead prices came under resistance at the 5-day moving average and only moved weakly around RMB 14,780/mt with longs taking advantage, and ended the day at RMB 14,790/mt after dipping to a low of RMB 14,705/mt influenced by the decline in Shanghai Stock Exchange Composite Index. Trading volumes were down 68 lots to 204 lots, while positions increased 54 lots to 2,792 lots.

Key Words:  lead price   SHFE lead