SMM Brief Review - 2012/3/1 SHFE Lead Futures

SHANGHAI, Mar. 1 (SMM) – On Thursday, SHFE lead prices opened at RMB 16,150/mt and moved between RMB 16,150-16,200/mt in the morning. At midday, China’s February PMI was reported to up to 51.0, above expectations, but market was not boosted. Instead, SHFE lead prices dropped along with the falling LME lead prices to close at RMB 16,050/mt, down RMB 250/mt or 1.53%. Traded volumes increased by 100 lots to 502 lots and positions were down 94 lots to 1,736 lots.