SMM Daily Review - 2012/5/18 Lead Market

SHANGHAI, May 21 (SMM) – On Friday, SHFE 1208 lead contract became the most actively traded one, with prices opened RMB 100/mt lower at RMB 15,150/mt and moved between RMB 15,110-15,160/mt. In the afternoon, SHFE lead prices fell due to the falling domestic stock and finally closed at RMB 15,075/mt, down RMB 195/mt or 1.28%. Trading volumes were up 118 lots to 704 lots, while position increased by 496 lots to 1,450 lots.

In domestic spot markets, quotations Chihong Zn & Ge, Nanfang were to between RMB 15,220-15,240/mt, with premiums of nearly RMB 100/mt over the most active SHFE lead contract price. Shuangyan was quoted at RMB 15,170/mt. Offers for lead from Gejiu region were at RMB 15,160/mt. Selling interest at smelters lowered further, and transactions were still quiet.