SHANGHAI, Mar. 14 (SMM) – On Tuesday, SHFE lead prices opened slightly higher at RMB 15,980/mt due to the rising LME lead prices and gained support at RMB 16,000/mt in the morning to move above the level. In the afternoon, SHFE lead prices moved between RMB 16,030-16,060/mt and finally closed at RMB 16,055/mt, up RMB 115/mt. Traded volumes decreased by 258 lots to 138 lots and positions were up 6 lots to 1,392 lots.
In domestic spot markets, quotations were still rarely reported, brands such as Chihong Zn & Ge and Yubei were quoted between RMB 15,910-15,950/mt, with discounts over SHFE 1205 lead contract price at RMB 60/mt. Quotations for other brands were sparse. Inquiries were frequent but only limited transactions were done. In the afternoon, spot prices remained unchanged and market was even quieter.