SHANGHAI, Feb. 1 (SMM) – On Tuesday, SHFE lead prices, following the movements of Chinese domestic stocks, opened at RMB 16,110/mt and dipped to RMB 16,060/mt at around 10:30 a.m., but stopped falling with strong support. Prices then hovered between RMB 16,100-16,180/mt, and finally closed at RMB 16,160/mt, up RMB 40/mt. Trading volumes decreased by 418 lots to 276 lots, and positions decreased by 48 lots to 1,892 lots.
In domestic spot market, quotations for well-known brands such as Chihong Zn&Ge were around RMB 16,020/mt, with discounts over the most active SHFE lead contract prices at RMB 100/mt. Other brands such as Hexing were quoted between RMB 15,850-15,860/mt. Lead prices changed little in the afternoon. Transactions remained modest though improved from the previous trading day.