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SMM Brief on SHFE Lead Prices (2014-4-22)
Apr 22,2014 17:08CST
price review forecast
Source:SMM
Prices for the most active SHFE lead contract hovered most of Monday’s night session around RMB 13,810/mt, up RMB 5/mt, with only 2 lots of traded volumes.

SHANGHAI, Apr. 22 (SMM) – Prices for the most active SHFE lead contract hovered most of Monday’s night session around RMB 13,810/mt, up RMB 5/mt, with only 2 lots of traded volumes, pointing to a cautious sentiment among investors. On Tuesday, SHFE lead prices tracked LME lead prices up to a high of RMB 13,900/mt, and closed up RMB 75/mt, or 0.54%, at RMB 13,880/mt. Traded volumes lost 352 lots to 802 lots, while positions shed 356 lots to 6,486 lots. SHFE lead prices have found support at the 5-day moving average, with additional technical indicators positive. European and US economic reports due for release late Tuesday and HSBC’s China manufacturing PMI all are expected to come in positive, and SHFE lead prices should continue to test resistance at the RMB 13,900/mt mark for the near term.
 

SHFE lead prices

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