SMM Brief on SHFE Lead Futures (2012-10-29)

SHANGHAI, Oct. 29 (SMM) – Since the optimistic US GDP data failed to boost market confidence, SHFE lead prices opened at RMB 15,210/mt and followed a weak trend between RMB 15,180-15,200/mt on October 29. In the afternoon, domestic stock markets dropped to a low 2,053, adding to bearish mood in the market, with many investors booking profits. In response, SHFE lead prices fluctuated down to hit RMB 15,130/mt, a new low in eight months, to finally close at RMB 15,175/mt. Trading volumes were down 134 lots to 136 lots, while positions were up 10 lots to 1,214 lots.