SHANGHAI, Oct. 25 (SMM) – SHFE 1312 lead contract prices opened RMB 65/mt lower at RMB 14,400/mt and dip as low as RMB 14,330/mt Thursday. Later, the positive HSBC’s China manufacturing PMI failed to offer strong impetus to the market, with SHFE lead falling back to RMB 14,360/mt after a brief touch to RMB 14,400/mt. The most active SHFE lead contract rose marginally to end at RMB 14,390/mt helped by some buying support, down RMB 40/mt. Trading volumes contracted by 562 lots to 680 lots, and positions shed by 98 lots to 10,484 lots.
SMM Lead Market Daily Review (2013-10-24)