Metals News
SMM Brief on SHFE Lead Futures (2013-6-14)
price review forecast
Jun 14,2013

SHANGHAI, Jun. 14 (SMM) – LME lead shed nearly 1.5% last night, but SHFE 1306 lead contact was more resilient, which started only RMB 30/mt lower at RMB 13,805/mt on Friday. The most active SHFE lead contract was mired at its opening price for most time of the session, but did inch up RMB 20/mt one hour before the end of the session. Finally, SHFE lead for June delivery ended the day down RMB 30/mt at RMB 13,820/mt, with the settlement price slightly lower at RMB 13,806/mt. Trading volumes were off 18 lots to 46 lots, and positions also contracted 32 lots to 1,782 lots. Investors booked profits by closing positions before the weekend. With spot lead demand remaining anemic and with the US Federal Reserve (Fed)’s stance on monetary policy still unclear, SHFE 1306 lead contract should continue to be capped under the 30-day moving average prior to the Fed’s policy meeting due early next week.

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