SHANGHAI, Jun. 18 (SMM) – On Friday, SHFE lead prices gapped higher at RMB 15,095/mt. Most investors left the market and waited on the sidelines, so market staged a weak trend. SHFE lead prices moved narrowly for the whole day and closed at RMB 15,105/mt, up RMB 125/mt from the previous trading day. Trading volumes were up 52 lots to 142 lots, while positions were down 58 lots to 2,180 lots.
On Friday, branded lead in China’s spot lead market, including Nanfang, Chengyuan, and Shuikoushan were quoted at RMB 15,150/mt, with spot premiums of RMB 50-70/mt against the most active SHFE lead contract price. Mengzi and Hanjiang were quoted between RMB 15,080-15,100/mt. Offers of Shenqian was at RMB 15,020/mt. Smelters moved goods normally and dealer were interested in selling goods. But downstream buyers remained cautious, leaving transactions muted.