SMM Brief on SHFE Lead Futures (2012-10-18)

SHANGHAI, Oct. 18 (SMM) – SHFE lead prices opened higher at RMB 15,770/mt as positive news from Europe and the US added to risk appetite. Later, China’s GDP was reported at 7.4%, a 3-year low, but in line with market expectations, so market showed mild response. SHFE lead prices moved narrowly between RMB 15,760-15,780/mt and finally closed at RMB 15,755/mt, up RMB 100/mt. Investors were not willing to enter market. Trading volumes fell 36 lots to 56 lots, and positions were down 4 lots to 1,172 lots.