Home / Metal News / SHFE Lead Ups 2.49% (Nov. 25, 2015)

SHFE Lead Ups 2.49% (Nov. 25, 2015)

iconNov 25, 2015 16:21
Source:SMM
SHFE 1601 lead gapped higher at RMB 12,540/mt during Tuesday night session responding to early day’s gains and Turkey-Russia tensions.

SHANGHAI, Nov. 25 (SMM) – SHFE 1601 lead gapped higher at RMB 12,540/mt during Tuesday night session responding to early day’s gains and Turkey-Russia tensions. Then, the contract ranged between RMB 12,360-12,660/mt before closing RMB 12,560/mt, up RMB 300/mt or 2.45%.

During Wednesday trading session, the most actively-traded contract hovered between RMB 12,450-12,530/mt and closed at RMB 12,565/mt, up by RMB 305/mt or 2.49%. Trading volumes saw a decline of 4,078 to 15,294 lots and positions narrowed 602 to 14,244.

SHFE 1601 lead should continue to test support from the 20-day moving average this evening. Falling dollar will lend support to SHFE lead prices. Position opening by shorts accounts for a large number, reflecting bearish attitude towards lead future prices. 


SHFE lead price
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