SHANGHAI, May 16 (SMM) – SHFE lead prices opened lower at RMB 15,410/mt Tuesday and moved narrowly between RMB 15,440-15,550/mt, with prices finally closing at RMB 15,520/mt, down RMB 10/mt. Trading volumes were down 34 lots to 344 lots, and positions increased by 48 lots to 1,082 lots.
Lead prices in China’s domestic spot markets fell, with quotations for well-known brands such as Chihong Zn & Ge, Shuikoushan mainly around RMB 15,500/mt, close to the most active SHFE lead contract price. Tongguan was quoted at RMB 15,420/mt. Prices for lead from Gejiu region remained low at around RMB 15,320/mt, but some dealers were reluctant to move goods at low prices. Enterprises downstream were still not willing to buy due to poor orders, leaving trading light.