SMM Daily Review - 2012/2/8 Lead Market

SMM Insight 08:42:30AM Feb 09, 2012 Source:SMM

SHANGHAI, Feb 9 (SMM) – On Wednesday, SHFE lead prices moved around RMB 16,100/mt after opening at RMB 16,060/mt. In the afternoon, SHFE lead prices rose significantly by RMB 110/mt to move around RMB 16,240/mt due to the increase in Chinese domestic stock markets and support at the RMB 16,130/mt level. SHFE lead prices finally closed at RMB 16,250/mt, up RMB 190/mt or 1.18%. Trading volumes decreased by 12 lots to 156 lots, and positions increased by 14 lots to 1,870 lots.

Prices for domestic well-known brands such as Nanfang and Chengyuan were at RMB 15,950/mt, with discounts against SHFE 1203 lead contract price at RMB 150/mt. Quotations for lead from Gejiu were at RMB 15,800/mt. In the afternoon, SHFE lead prices rose remarkably, and prices for branded lead increased to RMB 16,100/mt, and prices for lead from Gejiu were also up to RMB 15,920/mt. Smelters only sell goods in limited amounts due to bullish outlook. Meanwhile, downstream demand remained weak as production recovery at enterprises was still slow. Thus, trading market was still quiet.

Key Words:  SHFE lead   spot lead   lead prices 

SMM Daily Review - 2012/2/8 Lead Market

SMM Insight 08:42:30AM Feb 09, 2012 Source:SMM

SHANGHAI, Feb 9 (SMM) – On Wednesday, SHFE lead prices moved around RMB 16,100/mt after opening at RMB 16,060/mt. In the afternoon, SHFE lead prices rose significantly by RMB 110/mt to move around RMB 16,240/mt due to the increase in Chinese domestic stock markets and support at the RMB 16,130/mt level. SHFE lead prices finally closed at RMB 16,250/mt, up RMB 190/mt or 1.18%. Trading volumes decreased by 12 lots to 156 lots, and positions increased by 14 lots to 1,870 lots.

Prices for domestic well-known brands such as Nanfang and Chengyuan were at RMB 15,950/mt, with discounts against SHFE 1203 lead contract price at RMB 150/mt. Quotations for lead from Gejiu were at RMB 15,800/mt. In the afternoon, SHFE lead prices rose remarkably, and prices for branded lead increased to RMB 16,100/mt, and prices for lead from Gejiu were also up to RMB 15,920/mt. Smelters only sell goods in limited amounts due to bullish outlook. Meanwhile, downstream demand remained weak as production recovery at enterprises was still slow. Thus, trading market was still quiet.

Key Words:  SHFE lead   spot lead   lead prices