SMM Daily Review - 2012/4/12 Lead Market

SHANGHAI, Apr. 13 (SMM) – On Thursday, SHFE lead prices opened slightly higher at RMB 15,580/mt and maintained stable around moving averages in the morning session. In the afternoon, Chinese domestic stocks jumped, boosting SHFE lead prices to hit a high of RMB 15,845/mt and finally close at RMB 15,665/mt, up RMB 205/mt, a growth of 1.33%. Trading volumes increased by 210 lots to 344 lots and positions were down 122 lots to 2,218 lots.

In China’s domestic spot markets, quotations for Chihong Zn & Ge and Nanfang were between RMB 15,650-15,660/mt, and lead of Yunyue from Gejiu region was quoted at RMB 15,580-15,600/mt. Selling interest improved with the increase of lead prices, but downstream consumption remained soft.