SMM Brief on SHFE Lead Futures (2013-2-27)

SHANGHAI, Feb. 27 (SMM) – SHFE lead prices opened at RMB 14,970/mt on February 27 and rose above RMB 15,095/mt due to favorable US economic data and Bernanke’s remark about maintaining easing policies. However, prices lacked momentum to rise further due to unimproved demand and fell to RMB 15,040/mt. In the afternoon, SHFE lead prices fell slightly to close at RMB 15,030/mt due to weak domestic stock markets, up RMB 60/mt from the previous trading day. Trading volumes were fell 8 lots to 196 lots, while positions were down 36 lots to 2,132 lots.