SMM Brief on SHFE Lead Futures (2013-10-9)

SHANGHAI, Oct. 9 (SMM) – The most active SHFE lead price started at RMB 14,095/mt on October 9 and touched a high of the day at RMB 14,155/mt. Later, the prices moved around RMB 14,100/mt and finally closed RMB 40/mt higher at RMB 14,095/mt, staying around the 5-day moving average. No major stories were reported. Traded volumes for the most active SHFE lead contract dropped by 72 lots to 420 lots, while positions were up 24 lots to 8,404 lots. Trading volumes ran counter to positions, an indication of caution among investors. Longs had a slight edge in the market.