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SMM Brief on SHFE Lead Prices (2014-3-13)
Mar 13,2014 17:39CST
price review forecast
Source:SMM
Boosted by LME lead prices, SHFE lead prices rose to as high as RMB 13,675/mt after starting at RMB 13,645/mt, and ended down RMB 10/mt at RMB 13,630/mt in Wednesday’s night trading session.

SHANGHAI, Mar. 13 (SMM) – Boosted by LME lead prices, SHFE lead prices rose to as high as RMB 13,675/mt after starting at RMB 13,645/mt, and ended down RMB 10/mt at RMB 13,630/mt in Wednesday’s night trading session. During the night session, trading volumes were only 22 lots, while positions were off 10 lots to 9,428 lots. China’s industrial output rose by 8.6% YoY in January and February, hitting a new four-year low. Fixed asset and property development investment growth slowed down YoY during the same period. In response, SHFE lead prices trended lower to finish down RMB 90/mt at an intraday low of RMB 13,550/mt, with increasing number of longs liquidating positions. Trading volumes were 1,372 lots, and positions fell 754 lots to 8,684 lots on Thursday.
 

SHFE lead prices

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