SMM Brief Review - 2012/4/9 SHFE Lead Futures

SHANGHAI, Apr. 9 (SMM) – As the US non-farm payrolls released last week turned out mixed, SHFE lead prices, without directions from LME lead prices, opened at RMB 15,645/mt on Monday. Later, since China’s CPI growth for March was reported at 3.6%, indicating China would still be under great inflation pressures. As a result, SHFE lead prices hovered around the opening price, but found buying support at RMB 15,650/mt at midday to climbed to a high of RMB 15,720/mt. In the afternoon, prices fell and closed the day down RMB 100/mt to RMB 15,580/mt. Trading volumes decreased by 38 lots to 228 lots and positions remained little changed at 2,558 lots.