SMM Brief Review - 2012/2/21 SHFE Lead Futures-Shanghai Metals Market

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SMM Brief Review - 2012/2/21 SHFE Lead Futures

SMM Insight 04:24:06PM Feb 21, 2012 Source:SMM

SHANGHAI, Feb. 21 (SMM) – On Tuesday, market waited for the final decision on the Greek bailout in the morning, and SHFE lead prices fluctuated between RMB 15,700-15,770/mt after opening. At around 10:50 a.m., eurozone finance ministers reached agreement on the second round of Greek bailout loans, agreeing to offer EUR 130 billion in aid and requiring the country to bring down its debt-to-GDP ratio to 121% by 2020. In response, the US dollar index fell and LME lead prices moved up to touch a high of RMB 15,800/mt. In the afternoon, SHFE lead prices maintained at RMB 15,800/mt and rose at the tail of trading with prices finally closing at RMB 15,820/mt, up RMB 135/mt or 0.86%. Trading volumes increased by 74 lots to 328 lots and positions were up 140 to 2,116 lots.

Key Words:  SHFE lead   lead price 

SMM Brief Review - 2012/2/21 SHFE Lead Futures

SMM Insight 04:24:06PM Feb 21, 2012 Source:SMM

SHANGHAI, Feb. 21 (SMM) – On Tuesday, market waited for the final decision on the Greek bailout in the morning, and SHFE lead prices fluctuated between RMB 15,700-15,770/mt after opening. At around 10:50 a.m., eurozone finance ministers reached agreement on the second round of Greek bailout loans, agreeing to offer EUR 130 billion in aid and requiring the country to bring down its debt-to-GDP ratio to 121% by 2020. In response, the US dollar index fell and LME lead prices moved up to touch a high of RMB 15,800/mt. In the afternoon, SHFE lead prices maintained at RMB 15,800/mt and rose at the tail of trading with prices finally closing at RMB 15,820/mt, up RMB 135/mt or 0.86%. Trading volumes increased by 74 lots to 328 lots and positions were up 140 to 2,116 lots.

Key Words:  SHFE lead   lead price