SMM Brief on SHFE Lead Futures (2013-10-17)

Price Review & Forecast 05:27:51PM Oct 17, 2013 Source:SMM
SHANGHAI, Oct. 17 (SMM) – Boosted by the news that an agreement was reached overnight to lift the US debt limit, the most-traded SHFE lead contract prices started higher at RMB 14,295/mt and surged to RMB 14,350/mt on Thursday. However, SHFE lead prices, subdued by the slumping LME lead prices, basically fluctuated around RMB 14,310/mt in morning trading session. During afternoon trading hours, the prices further declined to RMB 14,220/mt but later moved up slightly to close Thursday at RMB 14,280/mt, up RMB 60/mt. Trading volumes shed by 122 lots to 1,080 lots, while positions gained by 266 lots to 9,546 lots on Thursday.          
 

SMM Brief on SHFE Lead Futures (2013-10-17)

Price Review & Forecast 05:27:51PM Oct 17, 2013 Source:SMM
SHANGHAI, Oct. 17 (SMM) – Boosted by the news that an agreement was reached overnight to lift the US debt limit, the most-traded SHFE lead contract prices started higher at RMB 14,295/mt and surged to RMB 14,350/mt on Thursday. However, SHFE lead prices, subdued by the slumping LME lead prices, basically fluctuated around RMB 14,310/mt in morning trading session. During afternoon trading hours, the prices further declined to RMB 14,220/mt but later moved up slightly to close Thursday at RMB 14,280/mt, up RMB 60/mt. Trading volumes shed by 122 lots to 1,080 lots, while positions gained by 266 lots to 9,546 lots on Thursday.