SHAGNHAI, Sept. 23 (SMM) -- On Thursday, SHFE lead prices opened lower at RMB 15,690/mt, dragged down by LME lead prices overnight, and then dipped to RMB 15,020/mt, finding support at the RMB 15,000/mt level. Later the day, SHFE lead prices rose slightly to fluctuate between RMB 15,450-15,530/mt, and fell further to close at RMB 15,245/mt, down RMB 730/mt, or down 4.57%. Trading volumes increased by 400 lots to 950 lots, and total positions increased by 274 lots to 2,434 lots.
In domestic spot markets, spot prices were RMB 300/mt lower than the previous day. The brands such as Nanfang and Chihong Zn & Ge and Yuguang were quoted between RMB 15,350-15,400/mt, with discounts of negative RMB 50-100/mt against SHFE 1111 lead contract prices. In the afternoon, spot prices remained relatively unchanged compared to the morning session, with downstream buyers actively purchasing, causing transactions to improve.