SMM Brief on SHFE Lead Futures (2013-10-24)-Shanghai Metals Market

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SMM Brief on SHFE Lead Futures (2013-10-24)

Price Review & Forecast 05:33:50PM Oct 24, 2013 Source:SMM
SHANGHAI, Oct. 24 (SMM) – SHFE lead prices opened RMB 65/mt lower at RMB 14,400/mt on Thursday after LME lead prices slumped by USD 33/mt on Wednesday. China HSBC manufacturing PMI released in the morning climbed to 50.9 from September’s 50.2, but alleviated risk aversion sentiment in limited fashion. As a result, SHFE lead prices rose to RMB 14400/mt tentatively, but later dropped to RMB 14,360/mt. The prices finally ended RMB 40/mt lower at RMB 14,390/mt, boosted by some buying support at the tail of the trading. Trading volumes contracted by 562 lots to 680 lots, while positions shed by 98 lots to 10,484 lots.  
 
 
Key Words:  SHFE lead prices 

SMM Brief on SHFE Lead Futures (2013-10-24)

Price Review & Forecast 05:33:50PM Oct 24, 2013 Source:SMM
SHANGHAI, Oct. 24 (SMM) – SHFE lead prices opened RMB 65/mt lower at RMB 14,400/mt on Thursday after LME lead prices slumped by USD 33/mt on Wednesday. China HSBC manufacturing PMI released in the morning climbed to 50.9 from September’s 50.2, but alleviated risk aversion sentiment in limited fashion. As a result, SHFE lead prices rose to RMB 14400/mt tentatively, but later dropped to RMB 14,360/mt. The prices finally ended RMB 40/mt lower at RMB 14,390/mt, boosted by some buying support at the tail of the trading. Trading volumes contracted by 562 lots to 680 lots, while positions shed by 98 lots to 10,484 lots.  
 
 
Key Words:  SHFE lead prices