Metals News
SMM Daily Review - 2011/7/14 Lead Market
smm insight
09:13AM
Jul 15,2011
Source:SMM

SHANGHAI, Jul. 15 (SMM) –On Thursday, SHFE lead prices fluctuated between RMB 17,500-17,580/mt after opening lower at RMB 17,550/mt, with the highest level at RMB 17,595/mt and the lowest at RMB 17,480/mt. SHFE lead prices rose slightly to near the opening level at tail trading, with prices finally closing at RMB 17,555/mt, down RMB 140/mt. Trading volumes were 1,836 lots, down 1,478 lots; positions were 9,936 lots, down 178 lots, with shorts and longs activities balanced.

In China’s domestic lead spot markets, offers for Shuangyan and Chihong brands were RMB 17,050-17,100/mt on Thursday, with spot discounts at RMB 450-500/mt, while offers for Tongguan and Hongwu brands etc. were RMB 17,020-17,030/mt. In the afternoon, SHFE lead prices kept relatively stable, so spot prices were almost unchanged. Downstream producers were slow to purchase at the high prices, while traders with unclear market direction were cautious to sell goods. Generally, transactions were moderate on Thursday.


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