SHANGHAI, Jun. 15 (SMM) – On Thursday, most investors still waited for the result of Greek election and stayed out of the market to avoid risk events. SHFE lead prices opened at RMB 15,005/mt and hovered narrowly around RMB 15,000/mt to close at RMB 14,980/mt, down RMB 35/mt from the previous trading day. Trading volumes were down 120 lots to 90 lots, while positions were up 20 lots to 2,238 lots.
Branded lead in China’s spot lead market including Nanfang were quoted at RMB 15,100/mt, with spot premiums of RMB 100/mt against the most active SHFE lead contract price. Mengzi and brands from Gejiu region were quoted between RMB 15,020-15,040/mt. Offers of Shenqian was at RMB 14,980/mt. Smelters reported normal sales and dealer were more willing to sell. But downstream buyers were cautious.