SMM Daily Review - 2012/5/4 Lead Market

SHANGHAI, May 7 (SMM) – SHFE lead prices opened RMB 50/mt lower at RMB 15,795/mt Friday and moved narrowly between RMB 15,770-15,800/mt. In the afternoon, the rising Chinese domestic stocks failed to buoy SHFE lead markets, with prices finally closing at RMB 15,800/mt, down RMB 30/mt. Trading volumes were down 312 lots to 212 lots, and positions were down 88 lots to 1,404 lots.

In China’s domestic markets, quotations for Chihong Zn & Ge were mainly at around RMB 15,700/mt, with discounts at RMB 80-100/mt against the most active SHFE lead prices. Shuangyan was quoted at RMB 15,630/mt, and brands from Gejiu region were mainly quoted around RMB 15,600/mt. Transactions were poor ahead of the weekend.