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SMM Brief on SHFE Lead Prices (2014-3-21)
Mar 21,2014 17:29CST
price review forecast
Source:SMM
The most active SHFE 1405 lead contract prices started at RMB 13,715/mt, and then followed LME lead prices up to end RMB 65/mt higher at an intraday high of RMB 13,820/mt in Thursday’s night session

SHANGHAI, Mar. 21 (SMM) – The most active SHFE 1405 lead contract prices started at RMB 13,715/mt, and then followed LME lead prices up to end RMB 65/mt higher at an intraday high of RMB 13,820/mt in Thursday’s night session. During the trading session, trading volumes reached 38 lots, while positions gained 20 lots to 7,280 lots. SHFE lead prices managed to hover around RMB 13,770/mt in the morning trading hours, but later fell back to RMB 13,740/mt due to selling forces. The metal finished up RMB 5/mt at RMB 13,760/mt. Trading volumes fell sharply to 368 lots, and positions increased 90 lots to 7,350 lots on Friday. SHFE lead prices have risen for four trading days in a row, finding support at the 5-day moving average but encountering resistance at the 20-day moving average.
 

SHFE lead prices

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