SMM Daily Review - 2012/1/13 Lead Market

SHANGHAI, Jan. 16 (SMM) – SHFE lead prices opened higher at RMB 15,490/mt on Friday and moved between RMB 15,380-15,420/mt in the morning session. In the afternoon, SHFE lead prices fluctuated upward to the opening prices along with rising LME lead prices and finally closed at RMB 15,490/mt, up RMB 90/mt. Trading volumes increased by 80 lots to 464 lots, and positions increased by 166 lots to 1,886 lots.

In domestic spot markets, quotations for well-known brands such as Nanfang, Chihong Zn & Ge were around RMB 15,400/mt, close to SHFE 1203 lead contract prices. Other brands including Tianma were quoted around RMB 15,300/mt. In the afternoon, quotations were rarely seen. Limited inquiries were reported in the market as downstream enterprises and traders began their holiday. Transactions were relatively quiet.