SMM Lead Market Daily Review (2013-10-25)-Shanghai Metals Market

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SMM Lead Market Daily Review (2013-10-25)

Price Review & Forecast 08:59:14AM Oct 28, 2013 Source:SMM

SHANGHAI, Oct. 28 (SMM) – The most active SHFE lead prices opened at RMB 14,390/mt on Friday and basically fluctuated at RMB 14,410/mt after hitting an intraday high of RMB 14,425/mt in morning trading session. SHFE lead for December delivery then followed LME lead down to a low of RMB 14,280/mt and finally ended RMB 70/mt lower at RMB 14,320/mt. Technical indicators pointed to strong resistance. Trading volumes grew by 16 lots to 696 lots, while positions expanded by 196 lots to 10,680 lots. 

 
Spot lead prices in Shanghai held steady on Friday. Goods of Jinsha and Nanfang were traded at RMB 14,280/mt, a discount of RMB 130/mt over the most active SHFE lead contract price. Traded price for Hanjiang branded lead was RMB 14,250/mt, while price for Humon’s goods was RMB 14,160/mt. Cargo holders moved goods aggressively, but downstream producers still refrained from buying, leaving transactions thin.
 

SMM Lead Market Daily Review (2013-10-25)

Price Review & Forecast 08:59:14AM Oct 28, 2013 Source:SMM

SHANGHAI, Oct. 28 (SMM) – The most active SHFE lead prices opened at RMB 14,390/mt on Friday and basically fluctuated at RMB 14,410/mt after hitting an intraday high of RMB 14,425/mt in morning trading session. SHFE lead for December delivery then followed LME lead down to a low of RMB 14,280/mt and finally ended RMB 70/mt lower at RMB 14,320/mt. Technical indicators pointed to strong resistance. Trading volumes grew by 16 lots to 696 lots, while positions expanded by 196 lots to 10,680 lots. 

 
Spot lead prices in Shanghai held steady on Friday. Goods of Jinsha and Nanfang were traded at RMB 14,280/mt, a discount of RMB 130/mt over the most active SHFE lead contract price. Traded price for Hanjiang branded lead was RMB 14,250/mt, while price for Humon’s goods was RMB 14,160/mt. Cargo holders moved goods aggressively, but downstream producers still refrained from buying, leaving transactions thin.