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SHFE Lead Ends Down RMB 170/mt at RMB 13,210/mt (Dec. 12, 2014)

Release time:2014-12-15

Dec 12, 2014 09:50 GMT   Source:SMM

 

 

SHANGHAI, Dec. 12 (SMM) – Lead for February delivery on the Shanghai Futures Exchange, the most active contract, tracked LME lead down in Thursday’s night session and ended down RMB 60/mt at RMB 13,320/mt.

On Friday, SHFE lead fell as low as RMB 13,200/mt and finished down RMB 170/mt, or 1.27%, at RMB 13,210/mt. Trading volumes for the SHFE 1502 lead contract gained 1,690 lots to 2,710 lots, while positions added 1,304 lots to 10,966 lots. China’s retail sales of consumer goods rose 11.7% YoY in November, while its large industrial added value grew 7.2%, the lowest monthly increase since August. YTD urban fixed asset investment through November increased 15.8% YoY. Despite these discouraging economic numbers, SHFE base metals except lead trended up. SHFE lead, however, hit a new record low due to unfavorable lead fundamentals and the lack of buying force.