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SMM Lead Market Daily Review (2015-2-2)

Release time:2015-02-03

Feb 03, 2015 00:57 GMT   Source:SMM

 

SHANGHAI, Feb. 3 (SMM) – Lead for April delivery on the Shanghai Futures Exchange, the most active contract, opened at RMB 12,410/mt and then dipped slightly to RMB 12,380/mt in last Friday’s night session. The price of the SHFE 1504 lead contract rebounded to RMB 12,500/mt afterwards and closed at RMB 12,445/mt. Trading volumes for the most active contract totaled 714 lots, while positions decreased 116 to 12,690. On Monday, SHFE lead rose further to RMB 12,520-12,550/mt and finished up RMB 100/mt, or 0.8% at RMB 12,565/mt. Trading volumes for the most active contract totaled 2,680 lots, while positions added 532. HSBC’s final China manufacturing PMI for January came in at 49.7, slightly below 49.8 expected. Supplies from Chihong Zn & Ge traded at RMB 12,530-12,540/mt......

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