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SHFE Lead Ends Up RMB 45/mt at RMB 12,425/mt (Jan. 20, 2015)

Release time:2015-01-21

Jan 20, 2015 09:16 GMT   Source:SMM

 

 

SHANGHAI, Jan. 20 (SMM) – Lead for March delivery on the Shanghai Futures Exchange, the most active contract, opened at RMB 12,400/mt in Monday’s night session and then advanced to RMB 12,480/mt. The price of the SHFE 1503 lead contract later retreated to RMB 12,400/mt amid growing profit-taking by longs and ended up RMB 20/mt at RMB 12,400/mt. During the night session, trading volumes for the most active contract amounted to 5,326 lots, while positions shrank 666 to 19,958.

On Tuesday, SHFE lead initially sank to RMB 12,345/mt and later edged up to RMB 12,400-12,430/mt before ending up RMB 45/mt at RMB 12,425/mt. China’s GDP was reported Tuesday to have grown 7.3% YoY in Q4, level with expectations. Large industrial value added increased at the highest rate in three months, while home sales hit the highest of 2014 despite falling investment in the property market last month. The better-than-expected economic figures have eased concerns over a slowdown in the Chinese economy.
 

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