SMM Brief on SHFE Lead Prices (2014-7-10)

SHANGHAI, Jul. 10 (SMM) – Lead for August delivery, the most active contract, fell by RMB 20/mt during Wednesday’s night session on the Shanghai Futures Exchange, dampened by LME lead prices. During the night session, a total of 386 lots were traded, with most transactions done for the SHFE 1409 and 1410 lead contracts.

On Thursday, SHFE lead prices hovered largely between RMB 14,050-14,070/mt during the morning trading session, with only around 20 lots traded. The most active contract traded mostly at RMB 14,040-14,050/mt during the afternoon trading session, and closed down RMB 20/mt at RMB 14,050/mt. Trading volumes for the contract were 514 lots, and positions were off 4 lots to 6,372 lots. SHFE lead prices have found solid support at RMB 14,000-14,050/mt.