SMM Brief Review - 2012/2/16 SHFE Lead Futures

SHANGHAI, Feb 16 (SMM) – On Thursday, the most active SHFE lead contract price fell after opening lower. In the morning session, prices moved above RMB 15,800/mt but then fell to move between RMB 15,600-15,700/mt due to the decrease in LME lead prices. In the afternoon, SHFE lead prices moved down influenced by domestic stocks and fluctuated around RMB 15,550/mt. At the tail of trading, prices attempted to hit the RMB 15,600/mt mark but met resistance and finally close at RMB 15,530/mt, down RMB 320/mt or 2.01%, surrendering the gains over the past month. Trading volumes increased by 98 lots to 670 lots and positions were up 226 to 1,834 lots.