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SMM Brief on SHFE Lead Futures (2013-11-20)
Nov 20,2013 16:38CST
price review forecast
Source:SMM
Underpinned by stabilizing LME lead price, the most active SHFE 1401 lead contract price rebounded above the RMB 14,000/mt milestone after starting at RMB 13,975/mt.

SHANGHAI, Nov. 20 (SMM) – LME lead price overnight bounced back and closed at USD 2,094/mt, up USD 14/mt. Underpinned by stabilizing LME lead price, the most active SHFE 1401 lead contract price rebounded above the RMB 14,000/mt milestone after starting at RMB 13,975/mt. SHFE lead touched a high of RMB 14,020/mt and finally ended the day at RMB 14,015/mt, up RMB 55/mt or 0.39%. Transactions fell 810 lots to 958 lots, while open interest gained 188 lots to 10,520 lots. SHFE lead price continues to move below all moving averages and investors should pay special attention to the US Federal Reserve’s minutes in its last meeting due for release late in the session. 

 
SHFE lead price

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