SMM Lead Market Daily Review (2015-4-8)

SHANGHAI, Apr. 9 (SMM) – SHFE 1506 lead contract prices continued to rise after opening at RMB 12,725/mt for night trading Tuesday, and closed the session at RMB 12,745/mt, up RMB 80/mt.

The June delivery lead fell to RMB 12,625/mt early Wednesday as short positions increased. SHFE 1506 lead contract prices regained some losses later and ended at RMB 12,680/mt, up RMB 15/mt.

Goods of Chihong Zn & Ge quoted at about RMB 12,720/mt, and those of Nanfang and Chengyuan were offered at RMB 12,680-12,700/mt, on par with SHFE 1505 copper contract prices. Humon’s goods were offered at RMB 12,650-12,690/mt. Nanfang Nonferrous shipped out goods in small amounts. Although traders and downstream buyers intended to replenish stocks, high quotations left most of them on the sidelines. In Henan, lead prices were RMB 12,610-12,650/mt, higher than SMM refined lead prices.