SMM Lead Market Daily Review (2013-7-24)

SHANGHAI, Jul. 25 (SMM) – SHFE 1309 lead contract price started Wednesday at RMB 13,865/mt. As Shanghai Composite Index fell 0.5% after the HSBC China manufacturing PMI for July was reported at an 11-month low, base metal dropped, with the most active SHFE lead contract price falling RMB 20/mt. However, as domestic shares stabilized in the afternoon, SHFE lead returned to the opening level and finally ended down RMB 15/mt at RMB 13,845/mt. Trading volumes increased 44 lots to 128 lots, while positions rose 18 lots to 2,568 lots.