SHANGHAI, Aug. 3 (SMM) – China official manufacturing PMI for July came in at 50, below forecast. The PBOC employed measures to limit the third party’s payment, pressing China’s A-share prices. Base metal prices were thus weighed down. SHFE 1510 lead started last Friday evening session at RMB 12,995/mt and ended at RMB 13,005/mt, down by RMB 10/mt.
The most active contract fluctuated between RMB 12,950-13,000/mt on Monday and finished the day at RMB 12,850/mt, falling RMB 165/mt on sell-offs. Trading volumes totaled 3,454 lots and positions increased 342 to 17,236.
SHFE 1510 lead should test support at the 20 and 30-day moving averages this evening.
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