SHANGHAI, Jul. 24 (SMM) – SHFE 1510 lead opened at RMB 12,680/mt and dived to RMB 12,605/mt following slipping LME lead, to end at RMB 12,680/mt, reducing RMB 100/mt.
During Thursday trading session, SHFE lead lurched up and finally finished at RMB 12,815/mt, up RMB 35/mt. Trading volumes totaled 2,126 lots with positions up 560 to 15,378.
In Shanghai market, Chengyuan and Humon brands were offered at premiums of RMB 420/mt over SHFE 1510 lead with the traded prices at RMB 13,190-13,200/mt. Older Chengyuan brand goods quoted RMB 50/mt higher than SHFE 1508 lead at RMB 13,130/mt, versus RMB 13,080/mt for Shuangyan brand (packed in iron).
Guangxi Chengyuan Mining & Smelting and Shandong Humon Smelting shipped goods out July 23 but spot supply remained tight in market. Traders were unwilling to give their offers. Downstream buyers purchased on need, leaving trades quiet.