SMM Brief on SHFE Lead Futures (2013-10-16)-Shanghai Metals Market

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SMM Brief on SHFE Lead Futures (2013-10-16)

Price Review & Forecast 05:52:40PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) – As the proposal of House Speaker John Boehner was rejected by the White House, adding to uncertainty over the US debt limit crisis, US AAA credit rating was placed on watch negative by Fitch Ratings, rekindling market fears. The most active SHFE lead contract price hit a high of RMB 14,285/mt after opening at RMB 14,220/mt on Wednesday, but later dragged down to RMB 14,250/mt in morning trading session by falls in LME lead and the Shanghai Composite Index. The SHFE lead for December delivery dropped further to RMB 14,190/mt in the afternoon before closing at RMB 14,220/mt, up RMB 5/mt from Tuesday. Traded volumes added 616 lots to 1,202 lots, and positions were up 260 lots to 9,280 lots. 

 
Key Words:  SHFE lead price 

SMM Brief on SHFE Lead Futures (2013-10-16)

Price Review & Forecast 05:52:40PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) – As the proposal of House Speaker John Boehner was rejected by the White House, adding to uncertainty over the US debt limit crisis, US AAA credit rating was placed on watch negative by Fitch Ratings, rekindling market fears. The most active SHFE lead contract price hit a high of RMB 14,285/mt after opening at RMB 14,220/mt on Wednesday, but later dragged down to RMB 14,250/mt in morning trading session by falls in LME lead and the Shanghai Composite Index. The SHFE lead for December delivery dropped further to RMB 14,190/mt in the afternoon before closing at RMB 14,220/mt, up RMB 5/mt from Tuesday. Traded volumes added 616 lots to 1,202 lots, and positions were up 260 lots to 9,280 lots. 

 
Key Words:  SHFE lead price