SHANGHAI, Nov. 12 (SMM) – The most active SHFE 1312 lead contract prices gapped lower at RMB 14,180/mt in morning trading session on Tuesday, dampened by a drop in LME lead prices overnight. SHFE lead later extended losses, held down by all moving averages and dipped to RMB 14,110/mt in afternoon trading hours from around RMB 14,150/mt. The prices finally ended at RMB 14,105/mt, down RMB 105/mt on Tuesday. Transactions rose 180 lots to 616 lots, while positions fell 194 lots to 8,934 lots. SHFE lead is forecast to drop further given downward technical indicators and will be affected by relevant policies following the conclusion of China’s key conclave.