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SMM Brief on SHFE Lead Futures (2013-9-3)

iconSep 3, 2013 16:17
Source:SMM
Lead prices will likely extend losses due to potential output increases from the easing of raw materials and weak demand.

SHANGHAI, Sept. 3 (SMM) – SHFE lead market fluctuated around RMB 14,620/mt after opening at the price mark. Plagued by falling LME lead prices, SHFE lead market drifted lower at midday, down by RMB 60/mt to RMB 14,560/mt. In the afternoon session, the market extended declines, falling below the 20-day moving average, down to RMB 14,435/mt, a new low since August 15th. SHFE lead market stabilized at the tail of trading and finally closed at RMB 14,485/mt, down RMB 155/mt or 1.06%. Transactions were down 200 lots to 280 lots, while positions were down 30 lots to 9,490 lots. 

 
Compared with other base metals, SHFE lead market posted the largest price decline on Tuesday, tracking losses from other metals markets. Lead prices will likely extend losses due to potential output increases from the easing of raw materials and weak demand.   
 
SHFE lead market
LME lead market

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