SMM Brief on SHFE Lead Futures (2013-3-22)

SHANGHAI, Mar. 22 (SMM) – The most active SHFE lead contract price opened RMB 90/mt lower at RMB 14,590/mt on March 22 due to the uncertainty to financial situation in Cyprus and negative data in the Europe. Prices then moved between RMB 14,520-14,530/mt in the morening session with trading modest. In the afternoon, SHFE lead prices fell as the European Central Bank gave ultimatum to Cyprus, and finally closed at RMB 14,500/mt, down RMB 90/mt. Trading volumes increased 18 lots to 106 lots, while positions were down 48 lots to 2,098 lots.