MARKET REVIEW IN APRIL 2002

Influenced by the global market, Shanghai metal futures suffered a vicious downturn in April. Copper spot prices were slashed by 450 yuan, while most other contracts lost some 500 yuan. The total volume in April amounted to 943 thousand lots, equaling that of last April. The aluminum spot price dropped by some 170 yuan, while other contracts ended up 140 to 330 yuan lower. The total transaction volume reached 462 thousand lots, 7.5 times more than in the same period last year. Rubber futures experienced a plummet of 110 to 500 yuan proceeding its previous drastic rise. Rubber futures transactions were slack, with a volume of 160 thousand lots, up 15 percent over the same period last year. In addition, there were three futures contracts which at the end of the month decreased sharply, indicating an inactive market thereafter.