Home / Metal News / SMM Daily Review - 2011/9/30 Lead Market

SMM Daily Review - 2011/9/30 Lead Market

iconOct 8, 2011 09:16
Last Friday, SHFE 1111 lead contract prices opened slightly higher at RMB 14,315/mt, fluctuating around RMB 14,450/mt.

SHAGNHAI, Oct. 8 (SMM) -- Last Friday, SHFE 1111 lead contract prices opened slightly higher at RMB 14,315/mt, fluctuating around RMB 14,450/mt. In the afternoon, SHFE lead prices moved around RMB 14,750/mt but met resistance at the 10-day moving average, with prices closing at RMB 14,880/mt, up RMB 520/mt, or up 3.62%. Trading volumes decreased by 884 lots to 878 lots, and total positions decreased by 102 lots to 2,484 lots.

In domestic spot markets, well-known brands such as Nanfang and Chihong Zn & Ge were quoted between RMB 14,480-14,520/mt, with premiums of RMB 100/mt against SHFE 1111 lead contract prices. In the afternoon, there were few quotations reported, with some traders quoting around RMB 14,800/mt. Traders were prudent due to optimism, leaving transactions quiet.
 

lead
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

Related news