SHFE Lead Prices Up 2.29% (2016-11-14)-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Silicon
  • Prebaked anode
  • Futures movement
  • Copper
  • Inventory data
  • Lead
  • Evening comments
  • MMi Iron Ore Port Index
  • New Energy Vehicle
  • Nickel
  • NEV
  • Production data
  • Market commentary

SHFE Lead Prices Up 2.29% (2016-11-14)

Price Review & Forecast 06:40:16PM Nov 14, 2016 Source:SMM

SHANGHAI, Nov. 14 (SMM) – On Monday, SHFE 1701 lead started at RMB 17,005/mt and then advanced to RMB 17,555/mt. During the afternoon trading, SHFE 1701 lead kept rising momentum and rose to a daily high at RMB 17,750/mt and hovered at highs at the tail of trading. The contract finally closed at RMB 17,675/mt, up RMB 395/mt or 2.29%. Trading volumes increased 41,534 to 76,006 lots and positions rose 428 to 27,992. Base metals reversed to rise after diving last Friday in SHFE market. SHFE 1701 lead regained last Friday’s lost ground on Monday with entering of longs and stabilized above all moving averages. Spot lead supply is expected to increase in China’s market with nearing of delivery date, leading to improving trading.

SHFE 1701 lead is expected to keep hovering at highs for the short term, but market should eye on a possible decline due to longs taking profit at highs on Monday’s night trading.

Key Words:  SHFE lead  LME lead  lead prices 

Price

more
#1 Lead
Apr.19
16550.0
50.0
(0.30%)
T/C for domestic lead concentrate
Apr.01
1850.0
0.0
(0.00%)
T/C for imported lead concentrate
Apr.01
27.5
0.0
(0.00%)
#2 Lead
Apr.19
16500.0
50.0
(0.30%)
Secondary Lead
Apr.19
16100.0
50.0
(0.31%)

SHFE Lead Prices Up 2.29% (2016-11-14)

Price Review & Forecast 06:40:16PM Nov 14, 2016 Source:SMM

SHANGHAI, Nov. 14 (SMM) – On Monday, SHFE 1701 lead started at RMB 17,005/mt and then advanced to RMB 17,555/mt. During the afternoon trading, SHFE 1701 lead kept rising momentum and rose to a daily high at RMB 17,750/mt and hovered at highs at the tail of trading. The contract finally closed at RMB 17,675/mt, up RMB 395/mt or 2.29%. Trading volumes increased 41,534 to 76,006 lots and positions rose 428 to 27,992. Base metals reversed to rise after diving last Friday in SHFE market. SHFE 1701 lead regained last Friday’s lost ground on Monday with entering of longs and stabilized above all moving averages. Spot lead supply is expected to increase in China’s market with nearing of delivery date, leading to improving trading.

SHFE 1701 lead is expected to keep hovering at highs for the short term, but market should eye on a possible decline due to longs taking profit at highs on Monday’s night trading.

Key Words:  SHFE lead  LME lead  lead prices