SMM Daily Review - 2012/4/6 Lead Market-Shanghai Metals Market

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SMM Daily Review - 2012/4/6 Lead Market

SMM Insight 09:04:37AM Apr 09, 2012 Source:SMM

SHANGHAI, Apr. 9 (SMM) – Despite the sharp rise in LME lead prices overnight, SHFE lead prices presented limited increase on Friday. SHFE lead prices fell to RMB 15,360/mt briefly after opening at RMB 15,660/mt, and then rose to move between RMB 15,530-15,580/mt. At the tail of trading, SHFE lead prices climbed further on account of domestic stock markets to finally close at RMB 15,680/mt, up RMB 150/mt. Trading volumes decreased by 20 lots to 266 lots and positions were up 52 lots to 2,558 lots.

In domestic spot markets, lead prices moved up slightly and sellers were more willing to move goods. Quotations for Yuguang, Chihong Zn & Ge and Shuikoushan were between RMB 15,670-15,700/mt, and Shenqian was quoted at RMB 15,640/mt. Downstream buyers still purchased on an as-needed basis.
 

Key Words:  SHFE lead   lead price 

SMM Daily Review - 2012/4/6 Lead Market

SMM Insight 09:04:37AM Apr 09, 2012 Source:SMM

SHANGHAI, Apr. 9 (SMM) – Despite the sharp rise in LME lead prices overnight, SHFE lead prices presented limited increase on Friday. SHFE lead prices fell to RMB 15,360/mt briefly after opening at RMB 15,660/mt, and then rose to move between RMB 15,530-15,580/mt. At the tail of trading, SHFE lead prices climbed further on account of domestic stock markets to finally close at RMB 15,680/mt, up RMB 150/mt. Trading volumes decreased by 20 lots to 266 lots and positions were up 52 lots to 2,558 lots.

In domestic spot markets, lead prices moved up slightly and sellers were more willing to move goods. Quotations for Yuguang, Chihong Zn & Ge and Shuikoushan were between RMB 15,670-15,700/mt, and Shenqian was quoted at RMB 15,640/mt. Downstream buyers still purchased on an as-needed basis.
 

Key Words:  SHFE lead   lead price