SMM Brief on SHFE Lead Prices (2014-4-25)

SHANGHAI, Apr. 25 (SMM) – The most active SHFE 1405 lead contract price started Thursday’s night session at RMB 13,950/mt, and then followed LME lead prices up as high as RMB 13,980/mt. The contract price confronted strong selling pressure at the RMB 14,000/mt mark, and dipped subsequently to a trough of RMB 13,900/mt before ending up RMB 15/mt at RMB 13,940/mt. Traded volumes stood at 132 lots, while positions added 32 lots to 6,600 lots. On Friday, SHFE lead prices sank to RMB 13,865/mt due to a number of longs liquidating positions, but later trended higher to close up RMB 15/mt at RMB 13,940/mt. Traded volumes were 822 lots, while positions were off 324 lots to 6,244 lots.