SHANGHAI, Nov.23 (SMM)–SHFE lead prices opened slightly lower at RMB 15,205/mt and edged up to RMB 15,350/mt on Tuesday. Prices moved between RMB 15,300-15,350/mt through the day and closed at the intraday high of RMB 15,350/mt. Trading volumes increased by 66 lots to 512 lots, and positions increased by 140 lots to 2,104 lots.
In domestic spot markets, traded prices of well-known domestic brands such as Nanfang and Chinhong Zn & Ge were between RMB 15,370-15,400/mt, with premiums against SHFE 1201 lead contract prices maintaining between RMB 40-50/mt. Traded prices for other brands such as Baiyin were between RMB 15,300-15,320/mt. Smelters were still unwilling to sell goods, while traders showed no intention to stock goods in large amount and purchases were limited among downstream buyers, leaving transactions rather modest.