SMM Brief on SHFE Lead Futures (2013-10-23)

Price Review & Forecast 05:09:18PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Affected by the disappointing US nonfarm payrolls overnight, the most traded SHFE lead contract prices opened higher at RMB 14,550/mt on Wednesday. Later in morning trading hours, however, SHFE lead prices dipped to RMB 14,430/mt, on increasing profit-taking following the release of the payrolls. Transactions were light in afternoon trading session, since cautious shorts no longer entered into the market after a drop of more than RMB 100/mt in a day, leaving SHFE lead prices basically flat between RMB 14,420-14,430/mt. SHFE lead finally ended at RMB 14,430/mt, down RMB 60/mt on Wednesday. Trading volumes shed by 682 lots to 1,242 lots, while positions gained by 30 lots to 10,582 lots.   

 

Key Words:  SHFE lead prices 

SMM Brief on SHFE Lead Futures (2013-10-23)

Price Review & Forecast 05:09:18PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – Affected by the disappointing US nonfarm payrolls overnight, the most traded SHFE lead contract prices opened higher at RMB 14,550/mt on Wednesday. Later in morning trading hours, however, SHFE lead prices dipped to RMB 14,430/mt, on increasing profit-taking following the release of the payrolls. Transactions were light in afternoon trading session, since cautious shorts no longer entered into the market after a drop of more than RMB 100/mt in a day, leaving SHFE lead prices basically flat between RMB 14,420-14,430/mt. SHFE lead finally ended at RMB 14,430/mt, down RMB 60/mt on Wednesday. Trading volumes shed by 682 lots to 1,242 lots, while positions gained by 30 lots to 10,582 lots.   

 

Key Words:  SHFE lead prices