SHANGHAI, Jul. 4 (SMM) – SHFE 1309 lead contract price opened at RMB 13,920/mt Thursday, and stayed in a narrow range between RMB 13,900-13,920/mt in morning trading hours. In the afternoon, with the Shanghai Composite Index breaking above the 5 and 10-day moving averages to stand above 2,000, the most active SHFE lead contract reversed the downtrend and finally ended at RMB 13,950/mt. Trading volumes increased 42 lots to 106 lots, while positions increased 36 lots to 2,006 lots. Settlement price was slightly lower at RMB 13,922/mt. SHFE lead still lacked any impetus to rise, and buyers are advised to purchase as needed.