SMM Brief on SHFE Lead Futures (2013-7-3)

SHANGHAI, Jul. 3 (SMM) – SHFE 1309 lead contract price opened at RMB 13,955/mt on June 3 and fell RMB 30/mt due to declining SHFE copper prices and Shanghai Composite Index falling below 2,000. In the afternoon, price for the most active contract regained some losses boosted by buying support and finally closed at RMB 13,965/mt. Trading volumes for the contract for September delivery fell 34 lots to 64 lots, while holdings remained unchanged at 1,970 lots. SHFE lead prices are expected to continue moving narrowly.