SMM Brief Review - 2011/12/16 SHFE Lead Futures

SHANGHAI, Dec. 16 (SMM) – On Friday, SHFE 1202 lead contract became the most active SHFE lead contract. Prices opened at RMB 15,150/mt and moved weakly around the level. In the afternoon, SHFE lead prices moved up to RMB 15,200/mt due to increase both in LME lead prices and domestic stock market, and rose further at the tail of trading to RMB 15,300/mt, but met resistance at the 30-day moving average, with prices finally closing at RMB 15,300/mt, up RMB 265/mt, or 1.76%. Trading volumes decreased by 242 lots to 550 lots, and positions increased by 50 lots to 1,308 lots.