SMM Brief on SHFE Lead Futures (2013-3-5)

Mar 5, 2013 15:30

The SHFE 1305 lead contract price opened at RMB 15,000/mt Tuesday with resistance at the 5-day moving average and moved narrowly between RMB 14,900-14,930/mt.

SHANGHAI, Mar. 5 (SMM) – The SHFE 1305 lead contract price opened at RMB 15,000/mt Tuesday with resistance at the 5-day moving average and moved narrowly between RMB 14,900-14,930/mt due to strong wait-and-see sentiment during the NPC and CPPCC sessions. Despite the 2.33% rebound in domestic stock markets, weak demand in spot lead market limited increase in SHFE lead with prices ending at RMB 14,900/mt. Trading volumes fell 14 lots to 196 lots, while positions were up 52 lots to 2,078 lots.

SHFE lead prices

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SMM Brief on SHFE Lead Futures (2013-3-5)

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