SMM Brief on SHFE Lead Futures (2013-2-6)

Feb 6, 2013 17:55

The 1304 SHFE lead contract price started at RMB 15,500/mt on January 6 with resistance at the 5-day moving average.

SHANGHAI, Feb. 6 (SMM) – The 1304 SHFE lead contract price started at RMB 15,500/mt on January 6 with resistance at the 5-day moving average. In the afternoon, as LME lead prices fell and as some investors booked profits and left the market, SHFE lead prices moved down to RMB 15,410/mt to finally end at RMB 15,400/mt with strong support at the 20-day moving average. Trading volumes fell 162 lots to 56 lots, while positions were up 10 lots to 2,442 lots.

SHFE lead prices

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SMM Brief on SHFE Lead Futures (2013-2-6)

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