Home / Metal News / SHFE 1506 Lead Edges up RMB 5/mt (April 20, 2015)

SHFE 1506 Lead Edges up RMB 5/mt (April 20, 2015)

iconApr 20, 2015 17:28
Source:SMM
The most active SHFE 1506 lead jumped to RMB 13,600/mt Monday from RMB 13,490/mt last Friday’s evening session.
SHANGHAI, Apr. 20 (SMM) – The most active SHFE 1506 lead jumped to RMB 13,600/mt Monday from RMB 13,490/mt last Friday’s evening session as the People’s Bank of China (PBOC) announced to cut the reserve requirement ratio (RRR) on Sunday.
 
But later SHFE lead prices fell back slowly, ending at RMB 13,565/mt, up RMB 5/mt, after the good news was absorbed. Positions dropped 1,156 to 16,558 as shorts and longs booked profits.
 
Currently, SHFE lead has met resistance. Good news will help SHFE lead break the resistance but otherwise, lead prices may fall back.
 
lead
lead prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news