SHANGHAI, Mar. 29 (SMM) – On Wednesday, SHFE lead prices opened slight lower at RMB 15,570/mt with resistance at the 5-day moving average, and moved between RMB 15,580-15,620/mt. In the afternoon, SHFE lead prices fell and dipped as low as RMB 15,450/mt, the lowest point of the year, with prices finally closing at RMB 15,475/mt, down RMB 150/mt. Trading volumes increased by 168 lots to 532 lots and positions were up 200 lots to 2,280 lots.
Domestic spot prices fell by RMB 50/mt from the previous trading day. Well-known brands such as Chihong Zn & Ge and Yuguang were quoted around RMB15,700/mt, and quotation for Shenqian was mainly around RMB 15,680/mt. In the afternoon, spot prices hovered between RMB 15,670-15,700/mt as SHFE lead prices fell further. Trading market was quiet with both sellers and buyers waiting on sidelines, leaving sparse transactions made.