SMM Brief on SHFE Lead Prices (2014-3-24)

Mar 24, 2014 17:41

The most active SHFE 1405 lead contract price hovered essentially around RMB 13,765/mt after starting at RMB 13,785/mt, and ended down RMB 15/mt, or 0.11%, at RMB 13,760/mt.

SHANGHAI, Mar. 24 (SMM) – The most active SHFE 1405 lead contract price hovered essentially around RMB 13,765/mt after starting at RMB 13,785/mt, and ended down RMB 15/mt, or 0.11%, at RMB 13,760/mt during last Friday’s night session. During the trading hours, trading volumes totaled only 74 lots, while positions gained merely 6 lots to 7,356 lots.

Dampened by falling LME lead prices and prevailing bearish sentiment, SHFE 1405 lead contract prices moved most of Monday between RMB 13,720-13,750/mt, and closed down RMB 20/mt, or 0.15% at RMB 13,740/mt. Trading volumes rose 82 lots to 450 lots, and positions shed 66 lots to 7,284 lots. SHFE lead prices have found support at the 5-day moving average, but face resistance at the 20-day moving average.

SHFE lead prices

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SMM Brief on SHFE Lead Prices (2014-3-24)

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