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SMM Daily Review - 2012/1/11 Lead Market
Jan 12,2012 08:46
CSTsmm insight
Source:SMM
SHFE lead prices finally closed at RMB 15,335/mt, up RMB 60/mt on Wednesday.
SHANGHAI, Jan. 12 (SMM) – SHFE 1203 lead contract prices, influenced by rising LME lead prices, opened about RMB 100/mt higher at RMB 15,350/mt on Wednesday, and moved around moving averages all day. SHFE lead prices finally closed at RMB 15,335/mt, up RMB 60/mt. Trading volumes decreased by 98 lots to 266 lots, and positions increased by 102 lots to 1,554 lots.
In domestic spot markets, transactions were modest, prices for well-known brands such as Nanfang, Chihong Zn & Ge were around RMB 15,350/mt. Quotation for Tongguan was RMB 15,300/mt. Other brands, including Tianma and Mengzi, were quoted between RMB 15,250-15,280/mt.
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