Metals News
SMM Brief on SHFE Lead Futures (2013-6-13)
price review forecast
Jun 13,2013

SHANGHAI, Jun. 13 (SMM) – SHFE 1306 lead contact price started at RMB 13,825/mt on Thursday, down RMB 180/mt from last Friday’s settlement price as LME lead gave back all the gains since early June during the three-day holiday in China. In the morning session, the most active SHFE lead contract was stagnant at RMB 13,810/mt as LME lead vacillated violently and as the Shanghai Composite Index lost over 3%. In the afternoon session, SHFE lead for June delivery managed to climb RMB 30/mt due to a wave of buying at RMB 13,840/mt, and finally ended the day down RMB 195/mt or 1.39% at RMB 13,850/mt. The settlement price was slightly below the closing price at RMB 13,839/mt. The turnover rate among shorts hit as much as 40.62%. Trading volumes of SHFE 1306 lead contracts increased a mere 8 lots to 64 lots, but positions contracted 4 lots to 1,814 lots. Trading volumes of all SHFE lead contracts were up 296 lots to 700 lots, with positions down 84 lots to 6,134 lots. Worries over global economic prospects and no noticeable improvement in demand capped SHFE lead under moving averages.

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