SHANGHAI, Jul. 6 (SMM) – SHFE 1508 lead opened at RMB 13,100/mt during evening session Thursday and closed the session up RMB 80/mt at RMB 13,050/mt.
The August-delivery lead touched a low of RMB 12,910/mt during Friday trading session and finished the day at RMB 12,955/mt, falling RMB 15/mt or 0.12%.
Tongguan and Nanfang brands quoted RMB 13,230-13,250/mt in Shanghai, RMB 260/mt higher than SHFE 1508 lead, versus RMB 13,170/mt for Ximai brand. Smelters shipped no goods out, causing a shortfall in spot market. Downstream buyers watched from sidelines and mainly purchased under term contract, leaving trading soft.