SHANGHAI, Jun. 13 (SMM) – Market holds a wait-and-see attitude before the Greek election, and LME lead prices follow a weak trend overnight, so SHFE lead prices opened at RMB 14,950/mt Tuesday under downward pressures. SHFE lead prices then sank to dip to a low of RMB 14,190/mt but gained buying support later and rose to move around RMB 15,000/mt, with prices finally closing at RMB 15,025/mt, down RMB 75/mt. Trading volumes were up 2 lots to 102 lots and positions were up 40 lots to 2,200 lots.
Quotations for branded lead including Nanfang in China’s spot lead market were at RMB 15,100/mt, with spot premiums of RMB 30/mt against the most active SHFE lead contract price. Shuikoushan was quoted at RMB 15,070/mt and brands from Gejiu region were quoted at RMB 15,040/mt. Offers of Shenqian was at RMB 14,960/mt. Dealers were willing to sell goods on bearish outlook, but buying interest downstream remained low, leaving transactions muted.