SMM Daily Review - 2012/5/11 Lead Market

SHANGHAI, May 14 (SMM) – SHFE lead prices opened at RMB 15,650/mt Friday and rose to RMB 15,680/mt briefly influenced by China’s slower CPI growth for April. Later, SHFE lead prices fell to RMB 15,555/mt due to a lack of upward momentum and falling domestic stocks, to finally close at RMB 15,600/mt, down RMB 50/mt. Trading volumes were down 124 lots to 264 lots, and positions dropped by 32 lots to 992 lots.

On Friday, quotations for well-known brands such as Chihong Zn & Ge and Nanfang were initially at RMB 15,580/mt, but rose to RMB 15,620/mt along with SHFE lead prices due to the release of China’s slower CPI growth in April. Other brands including Shuangyan, Tongguan and Shuikoushan were quoted between RMB 15,530-15,550/mt. Transactions remained quiet.