SMM Daily Review - 2012/5/10 Lead Market

SHANGHAI, May 11 (SMM) – SHFE lead prices opened lower at RMB 15,610/mt Thursday due to the falling LME lead prices and moved narrowly between RMB 15,630-15,670/mt. SHFE lead prices finally close at RMB 15,650/mt. Trading volumes were down 22 lots to 388 lots, and positions dropped by 174 lots to 1,024 lots.

Spot prices were relatively firm. Quotations for Chihong Zn & Ge were mainly at RMB 15,600/mt, with discounts against the most active SHFE lead prices narrowing to RMB 40/mt, and Shuangyan was quoted at RMB 15,500/mt, and offers for brands from Gejiu region remained around RMB 15,400/mt. In the afternoon, spot prices changed little and trading remained modest.