SMM Daily Review - 2012/5/25 Lead Market

SHANGHAI, May 28 (SMM) – On Friday, SHFE lead prices opened at RMB 15,140/mt and moved down to fluctuate narrowly between RMB 15,120-15,150/mt. At the tail of trading, SHFE lead prices dropped briefly due to the falling domestic stocks and finally closed up RMB 60/mt to RMB 15,155/mt influenced by decline of the US dollar index. Trading volumes were down 158 lots to 102 lots, while positions increased to 1,786 lots, up 16 lots.

In China’s domestic spot market, quotations for Chihong Zn & Ge and Nanfang changed little from the previous trading day and were mainly at RMB 15,260/mt, with premiums of RMB 130/mt over the most active SHFE lead contract price. Shuangyan and Shuikoushan were quoted between RMB 15,200-15,220/mt. Dealers remained normal sales and downstream buyers purchased on production needs, leaving trading light.