SMM Brief on SHFE Lead Futures (2013-10-22)

SHANGHAI, Oct. 22 (SMM) – The most active SHFE lead prices, boosted by the soaring LME lead prices overnight, started higher at RMB 14,465/mt on Tuesday. SHFE lead prices later consolidated between RMB 14,470-14,480/mt in morning trading session when investors awaited the US nonfarm payrolls and were cautious in trading ahead of the result. During afternoon trading hours, SHFE lead prices temporarily dipped to RMB 14,435/mt but later reached as high as RMB 14,500/mt with stronger domestic buying support, following the rally of LME lead prices. SHFE lead finally closed Tuesday at RMB 14,490/mt, up RMB 35/mt. Trading volumes gained by 522 lots to 1,924 lots, while positions rose by 542 lots to 10,552 lots.