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SMM Daily Review - 2012/1/12 Lead Market
Jan 13,2012 08:55CST
smm insight
Source:SMM
SHFE 1203 lead contract prices moved down to RMB 15,220/mt after opening at RMB 15,265/mt on Thursday.

SHANGHAI, Jan. 13 (SMM) – SHFE 1203 lead contract prices moved down to RMB 15,220/mt after opening at RMB 15,265/mt on Thursday. Later as the National Bureau of Statistics released China’s December CPI data, prices stopped decreasing and stabilized. In the afternoon, SHFE lead prices fluctuated upward along with domestic stocks and finally closed at RMB 15,400/mt, up RMB 65/mt. Trading volumes increased by 118 lots to 384 lots, and positions increased by 166 lots to 1,720 lots.

In domestic spot markets, traders began their holiday successively, leaving fewer quotations in the markets. Traded prices were close to previous trading day, with prices for well-known brands such as Nanfang, Chihong Zn & Ge at RMB 15,320-15,350/mt. Other brands including Tianma were quoted around RMB 15,250/mt. In the afternoon, SHFE lead prices moved up, but increases in spot prices were limited due to weak demand. Prices remained unchanged from morning session. Transactions were relatively quiet.

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