SMM Daily Review - 2012/5/8 Lead Market

SHANGHAI, May 9 (SMM) – SHFE lead prices hit a high of RMB 15,800/mt after opening at RMB 15,715/mt Tuesday, but fell at the tail of trading to end the day close to the opening price at RMB 15,705/mt. Trading volumes were up 108 lots to 216 lots, and positions dropped by 40 lots to 1,402 lots.

In China’s domestic markets, quotations for well-known brands including Chihong Zn & Ge were at RMB 15,710/mt, with discounts of RMB 60-90/mt against the most active SHFE lead prices, and Tongguan was quoted between RMB 15,650-15,670/mt. Shuangyan was quoted at RMB 15,600/mt, and offers for brands from Gejiu region were around RMB 15,550/mt. Buying interest were down due to the increase in lead prices, leaving transactions muted.