SMM Brief on SHFE Lead Futures (2013-1-24)-Shanghai Metals Market

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SMM Brief on SHFE Lead Futures (2013-1-24)

SMM Insight 03:52:14PM Jan 24, 2013 Source:SMM

SHANGHAI, Jan. 24 (SMM) – The SHFE 1303 lead contract price started higher at RMB 15,275/mt on January 24 with resistance at the 20-day moving average, and fell nearly RMB 100/mt to RMB 15,190/mt. Later, as the HSBC China manufacturing PMI for December was reported up to 51.9, a 24-month high, and rising for the fifth month, the decline in SHFE lead prices was arrested. However, the falls in the Shanghai Composite Index drove SHFE lead prices to fluctuate between RMB 15,200-15,220/mt and end the day at RMB 15,220/mt, down RMB 30/mt. Trading volumes increased 56 lots to 240 lots, while positions were up 20 lots to 2,248 lots.

 

SMM Brief on SHFE Lead Futures (2013-1-24)

SMM Insight 03:52:14PM Jan 24, 2013 Source:SMM

SHANGHAI, Jan. 24 (SMM) – The SHFE 1303 lead contract price started higher at RMB 15,275/mt on January 24 with resistance at the 20-day moving average, and fell nearly RMB 100/mt to RMB 15,190/mt. Later, as the HSBC China manufacturing PMI for December was reported up to 51.9, a 24-month high, and rising for the fifth month, the decline in SHFE lead prices was arrested. However, the falls in the Shanghai Composite Index drove SHFE lead prices to fluctuate between RMB 15,200-15,220/mt and end the day at RMB 15,220/mt, down RMB 30/mt. Trading volumes increased 56 lots to 240 lots, while positions were up 20 lots to 2,248 lots.