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SMM Daily Review - 2011/12/30 Lead Market

iconDec 31, 2011 09:04
Source:SMM
SHFE lead prices opened about RMB 150/mt higher at RMB 15,240/mt on Friday.

SHANGHAI, Dec. 31 (SMM) – SHFE lead prices opened about RMB 150/mt higher at RMB 15,240/mt on Friday due to the rising LME lead prices. As most investors stayed away from the market on the last trading day before the New Year's holiday, SHFE lead prices moved weakly between RMB 15,200-15,280/mt and finally closed at 15,285/mt, up RMB 190/mt, or 1.3%. Trading volumes increased by 46 lots to 256 lots, and positions decreased by 12 lots to 1,264 lots.

On the last trading day of the year, transactions were quiet in domestic spot markets. Quotations for well-known brands such as Chengyuan and Yuguang were between RMB 15,230-15,250/mt. Quotations for other brands including lead from Mengzi were around RMB 15,200/mt. In the afternoon, deals were rarely reported. As most market players were engaged in settlement at year’s end, only a few buyers purchased on as-needed basis.
 

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