SMM Daily Review - 2011/9/21 Lead Market

SHAGNHAI, Sept. 22 (SMM) -- On Wednesday, SHFE lead prices inched down after opening, gaining back previous losses as of 10:00 am. Domestic well-known brands such as Nanfang and Chihong Zn & Ge were quoted at RMB 15,680/mt, with prices rising to RMB 15,700/mt later the day, and remaining close to SHFE 1110 lead contract prices. Other brands such as Baiyin were quoted at RMB 15,670/mt. Traders were cautious due to optimism, keeping transactions quiet. Prices of well-known brands rose to RMB 15,800/mt in the afternoon, while prices of other brands were up to RMB 15,750/mt. SHFE 1111 lead contracts became the most actively traded, with discounts remaining around negative RMB 150 against SHFE 1111 lead contract prices. The market sentiment improved in the afternoon, with SHFE lead prices stabilizing. Downstream buying interest was high, keeping transactions brisk.