SMM Brief Review - 2012/7/25 SHFE Lead Futures

SHANGHAI, Jul. 25 (SMM) – Since the possibility for Greece to exit the euro zone is rising and since Moody’s cut the outlook for EFSF to negative, SHFE lead prices moved weakly between RMB 14,760-14,790/mt after opening at RMB 14,815/mt July 25. In the afternoon, SHFE lead prices continued to fall influenced by the LME lead prices and the bearishness in the market, to close at RMB 14,705/mt, down RMB 175/mt. Trading volumes were down 80 lots to 272 lots, while positions increased 120 lots to 2,738 lots.