SMM Brief on SHFE Lead Futures (2013-6-21)-Shanghai Metals Market

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SMM Brief on SHFE Lead Futures (2013-6-21)

Price Review & Forecast 06:41:16PM Jun 21, 2013 Source:SMM
SHANGHAI, Jun. 21 (SMM) – SHFE 1309 lead contract price gapped RMB 150/mt lower at RMB 13,915/mt on June 21 due to the 2% decline in LME lead prices overnight, a new low for the year. Later, as longs increased positions and shorts exited the market ahead of the weekend, SHFE lead moved up to RMB 14,005/mt before closing at RMB 13,980/mt, down RMB 15/mt. Trading volumes were down 324 lots t 178 lots, and positions were up 78 lots to 1,660 lots. The Shanghai/LME lead price ratio was 6.89 at the time of closing. Demand in spot lead markets remained sluggish and LME lead prices are unlikely to see uptick next week.
 
Key Words:  SHFE lead price 

SMM Brief on SHFE Lead Futures (2013-6-21)

Price Review & Forecast 06:41:16PM Jun 21, 2013 Source:SMM
SHANGHAI, Jun. 21 (SMM) – SHFE 1309 lead contract price gapped RMB 150/mt lower at RMB 13,915/mt on June 21 due to the 2% decline in LME lead prices overnight, a new low for the year. Later, as longs increased positions and shorts exited the market ahead of the weekend, SHFE lead moved up to RMB 14,005/mt before closing at RMB 13,980/mt, down RMB 15/mt. Trading volumes were down 324 lots t 178 lots, and positions were up 78 lots to 1,660 lots. The Shanghai/LME lead price ratio was 6.89 at the time of closing. Demand in spot lead markets remained sluggish and LME lead prices are unlikely to see uptick next week.
 
Key Words:  SHFE lead price