Metals News
SMM Daily Review - 2012/1/19 Lead Market
smm insight
08:40AM
Source:SMM

SHANGHAI, Jan. 20 (SMM) – SHFE lead prices opened RMB 130/mt higher at RMB 15,885/mt on Thursday and rose to move between RMB 15,880-15,960/mt. At the tail of trading, SHFE lead prices moved up further due to the rising domestic stocks and finally closed at RMB 16,000/mt, up RMB 250/mt, or 1.59%. Trading volumes increased by 80 lots to 714 lots, and positions increased by 116 lots to 2,052 lots.

In domestic spot markets, quotations were rarely reported ahead of the holiday. Well-known brands such as Nanfang and Jinsha were quoted between RMB 15,750-15,800/mt, with discounts over the most active SHFE lead contract prices of RMB 100-150/mt. Other brands such as Hexing were quoted at RMB 15,750/mt. However, lead-acid battery producers were still cautious given unclear market outlook and the sudden surge during these two days. Besides, most enterprises have been in holiday, few transactions were made on Thursday.

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