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SMM Daily Review - 2011/9/29 Lead Market
Sep 30,2011 09:15CST
price review forecast
Source:SMM
On Thursday, SHFE lead prices opened lower at RMB 13,895/mt, and then dipped to RMB 13,590/mt, a new low since lead futures contract was launched.

SHAGNHAI, Sept. 30 (SMM) -- On Thursday, SHFE lead prices opened lower at RMB 13,895/mt, and then dipped to RMB 13,590/mt, a new low since lead futures contract was launched. Later the day, SHFE lead prices rallied to RMB 14,050-14,250/mt, and finally closed at RMB 14,360/mt, down RMB 145/mt. Trading volumes increased by 80 lots to 1,702 lots, while total positions decreased by 326 lots to 2,586 lots.

In domestic spot markets, well-known brands such as Nanfang and Chihong Zn & Ge were quoted between RMB 14,100-14,180/mt, with premiums of RMB 50/mt against SHFE 1111 lead contract prices. In the afternoon, premiums narrowed to RMB 30/mt against SHFE 1111 lead contract prices, with traded prices between RMB 14,230-14,270/mt. Downstream buyers were actively building stocks ahead of the National Day holiday, while traders were also selling goods to generate cash at the end of the month, keeping transactions brisk.
 

lead prices

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