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SHFE #1 Lead Price Movement on May 2
May 2,2012 13:36CST
smm insight
Source:SMM
On the first trading day following the May Day holiday, SHFE lead prices opened slightly higher due to the rising LME lead prices.

SHANGHAI, May 2 (SMM) – On the first trading day following the May Day holiday, SHFE lead prices opened slightly higher due to the rising LME lead prices. In China’s domestic markets, quotations for Chihong Zn & Ge were initially at around RMB 15,850/mt, with discounts at RMB 50/mt against the most active SHFE lead prices. Later, the quotations were lowered to around RMB 15,800/mt due to limited transactions, with discounts against the most active SHFE lead prices expanding to RMB 100/mt. Shuangyan was quoted at RMB 15,750/mt. However, trading remained weak, and buyers mainly made inquiries.

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