SHANGHAI, Feb. 13 (SMM) – On Friday, SHFE lead prices fell after opening higher. Although LME lead prices overnight rose as much as 1.6%, SHFE lead prices did not increase notably with prices opening slightly higher at RMB 16,225/mt in the morning and soon fell to move between RMB 16,100-16,150/mt. In the afternoon, prices dropped further to hit RMB 16,045/mt due to the falling LME lead prices but stopped declining at the tail of trading to move between RMB 16,080-16,130/mt. SHFE lead prices finally closed at RMB 16,070/mt, down RMB 55/mt. Trading volumes decreased by 214 lots to 108 lots, and positions decreased by 52 lots to 1,666 lots.
Quotations for domestic well-known brands such as Chihong Zn & Ge and Chengyuan were at RMB 15,980-16,000/mt, with discounts against the most active SHFE lead contract price at RMB 150-170/mt. Lead from Gejiu were rarely sold. In the afternoon, markets remained quiet, with quotations for branded lead at RMB 15,950/mt. Smelters were actively selling goods but downstream buyers only purchased on an as-needed basis, leaving transactions modest.