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SMM Brief on SHFE Lead Prices (2014-4-3)
Apr 3,2014 17:33CST
price review forecast
Source:SMM
Soft economic data from European countries released overnight triggered expectations that the European Central Bank may ease its monetary policy.

SHANGHAI, Apr. 3 (SMM) – Soft economic data from European countries released overnight triggered expectations that the European Central Bank may ease its monetary policy. US jobs report from ADP and February factory orders also came in positive. SHFE lead prices followed LME lead prices up to a high of RMB 13,740/mt after starting at RMB 13,720/mt, but later fell to end down RMB 10/mt at RMB 13,685/mt during Wednesday’s night session. Traded volumes were 32 lots, and positions were off 6 lots to 7,042 lots. On Thursday, SHFE lead prices edged down to the RMB 13,700-13,720/mt trading range after touching RMB 13,740/mt briefly, and finished up RMB 5/mt at RMB 13,700/mt. Traded volumes were 476 lots, and positions were down 176 lots to 6,872 lots. SHFE lead prices now fare the worst among the base metals complex, pressured by all major moving averages. Despite negative technical indicators, any downside in prices will be limited due to strong copper, aluminum, and nickel prices.
 

SHFE lead prices

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