SMM Brief on SHFE Lead Prices (2014-3-27)

SHANGHAI, Mar. 27 (SMM) – SHFE lead prices dipped briefly to RMB 13,760/mt after starting at RMB 13,770/mt, and then rebounded to end up RMB 15/mt at RMB 13,800/mt during Wednesday’s night session. During the trading hours, trading volumes shed 100 lots to 58 lots, while positions gained 8 lots to 7,536 lots. On Thursday, SHFE lead prices sank to around RMB 13,760-13,780/mt, and finished down RMB 35/mt at RMB 13,750/mt. Trading volumes totaled 864 lots, while positions contracted 244 lots to 7,284 lots. SHFE lead prices look set to fluctuate between RMB 13,720-13,780/mt in the near term with the lack of guidance from major news.