SMM Brief on SHFE Lead Futures (2013-10-14)

Price Review & Forecast 05:47:57PM Oct 14, 2013 Source:SMM

SHANGHAI, Oct. 14 (SMM) – The most active SHFE lead contract prices opened flat at RMB 14,145/mt on Monday. China’s CPI released in morning trading session rose 3.1% from a year ago, higher than a forecast of 2.8% and August’ s 2.6%, aggravating worries over tighter monetary policy in the future. However, the September PPI fell 1.3%, a smaller fall than the 1.4% expected by the market and the 1.6% drop in August, which pointed to a manufacturing recovery. In this context, the 1312 SHFE lead contract prices consolidated between RMB 14,100-14,130/mt on Monday, underperforming the other base metals prices in morning trading hours. The prices, boosted by the rally of LME lead prices in afternoon trading session, surged above RMB 14,200/mt with the last deal done at RMB 14,420/mt, leaving SHFE lead prices up RMB 275/mt from the previous trading day. However, the extraordinary high traded price was considered caused by a mistake.  

 
Key Words:  SHFE lead price 

SMM Brief on SHFE Lead Futures (2013-10-14)

Price Review & Forecast 05:47:57PM Oct 14, 2013 Source:SMM

SHANGHAI, Oct. 14 (SMM) – The most active SHFE lead contract prices opened flat at RMB 14,145/mt on Monday. China’s CPI released in morning trading session rose 3.1% from a year ago, higher than a forecast of 2.8% and August’ s 2.6%, aggravating worries over tighter monetary policy in the future. However, the September PPI fell 1.3%, a smaller fall than the 1.4% expected by the market and the 1.6% drop in August, which pointed to a manufacturing recovery. In this context, the 1312 SHFE lead contract prices consolidated between RMB 14,100-14,130/mt on Monday, underperforming the other base metals prices in morning trading hours. The prices, boosted by the rally of LME lead prices in afternoon trading session, surged above RMB 14,200/mt with the last deal done at RMB 14,420/mt, leaving SHFE lead prices up RMB 275/mt from the previous trading day. However, the extraordinary high traded price was considered caused by a mistake.  

 
Key Words:  SHFE lead price