SHFE Lead Prices Move Rangebound within a Narrow Range Today

SHANGHAI, May 16 (SMM) - SHFE 2306 lead opened at 15,200 yuan/mt and once dropped to 15,180 yuan/mt. At last, it closed at 15,185 yuan/mt, down 0.1%. The open interest fell 6,762 lots to 52,457 lots from the previous trading day, and the trading volume dipped 16,735 lots to 39,692 lots. The decline in SHFE lead slowed down today, and the traders shipped their goods based on specific situations. Some traders who carried low spots held their quotes firm because the delivery of SHFE 2305 lead just ended, but secondary lead was traded at large discounts. Downstream companies purchased only on demand. As a result, small order transactions did not improve greatly today. The most-traded SHFE lead contract will move rangebound with occasional declines in the short term on a stable macro front.