SHANGHAI, Mar. 15 (SMM) – On Wednesday, SHFE lead prices opened slightly higher at RMB 16,170/mt and fluctuated down. In the afternoon, the US dollar index surged, dragging down LME lead prices, and domestic stock markets fell slightly. As a result, SHFE lead prices dropped to RMB 15,910/mt and surrendered earlier gains to finally close at RMB 15,920/mt, down RMB 110/mt. Traded volumes increased by 2 lots to 140 lots and positions were up 16 lots to 1,408 lots.
In domestic spot markets, brands such as Chihong Zn & Ge, Yubei and Hanjiang were quoted between RMB 15,940-15,960/mt, with discounts over the most active SHFE lead price at RMB 150/mt. Prices for other brands including Wanyang were at RMB 15,850/mt. Inquiries were frequent but only limited transactions were done due to higher lead prices. In the afternoon, spot prices fell by RMB 50/mt as SHFE lead prices dropped, but transactions did not improve with demand still weak.