SMM Brief on SHFE Lead Futures (2013-4-24)

SHANGHAI, Apr. 24 (SMM) – SHFE 1306 lead contract price gapped RMB 100/mt higher at RMB13,820/mt on April 24 and moved between RMB 13,750-13,800/mt. In the afternoon, as profit-booking by shorts drove the A-shares to rebound and shored up market confidence, SHFE copper rose above RMB 50,000/mt. However, SHFE lead prices lacked impetus to increase, and only hovered around RMB 13,800/mt before ending at RMB 13,810/mt, up RMB 120/mt and standing above the 5-day moving average. Traded volumes were up 52 lots to 152 lots, while positions increased 66 lots to 2,114 lots.