Home / Metal News / Copper / SMM Daily Review - 2011/9/22 Lead Market
SMM Daily Review - 2011/9/22 Lead Market
Sep 23,2011 09:39CST
price review forecast
Source: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.

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.
 

SHFE lead prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news