SMM Brief Review - 2012/5/14 SHFE Lead Futures

SHANGHAI, May 14 (SMM) – Although China declared to lower banks’reserve requirement ratio starting May 18, market concerns remained. SHFE lead prices opened at RMB 15,700/mt Monday and edged up after hitting a low of RMB 15,400/mt. At midday, SHFE lead prices moved around RMB 15,600/mt but fell in the afternoon due to the declines in domestic stocks and LME lead prices, to finally close at RMB 15,530/mt, down RMB 70/mt. Trading volumes were up 114 lots to 378 lots, and positions increased by 42 lots to 1,034 lots.