SMM Daily Review - 2012/6/19 Lead Market-Shanghai Metals Market

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SMM Daily Review - 2012/6/19 Lead Market

Price Review & Forecast 08:51:33AM Jun 20, 2012 Source:SMM

SHANGHAI, Jun. 20 (SMM) – On Tuesday, SHFE lead prices opened lower at RMB 15,060/mt and fluctuated narrowly in the morning. In the afternoon, SHFE lead prices fell influenced by Chinese stock markets to close at RMB 15,005/mt, down RMB 145/mt. Trading volumes were up 44 lots to 122 lots, while positions were down 2 lots to 2,178 lots.

Spot lead prices in domestic markets were relatively resistant with strong support at RMB 15,000/mt. Well-known brands such as Nanfang were mainly quoted at RMB 15,120/mt, with premiums of RMB 50/mt against the most active SHFE lead price. Hanjiang was quoted at RMB 15,070/mt, while quotations for Shenqian and brands from Gejiu region were between RMB 15,040-15,050/mt. Smelters mainly fulfilled long-term contracts, and downstream enterprises still purchased as needed to avoid risks, leaving transactions muted.

Key Words:  SHFE lead   lead price   spot lead 

SMM Daily Review - 2012/6/19 Lead Market

Price Review & Forecast 08:51:33AM Jun 20, 2012 Source:SMM

SHANGHAI, Jun. 20 (SMM) – On Tuesday, SHFE lead prices opened lower at RMB 15,060/mt and fluctuated narrowly in the morning. In the afternoon, SHFE lead prices fell influenced by Chinese stock markets to close at RMB 15,005/mt, down RMB 145/mt. Trading volumes were up 44 lots to 122 lots, while positions were down 2 lots to 2,178 lots.

Spot lead prices in domestic markets were relatively resistant with strong support at RMB 15,000/mt. Well-known brands such as Nanfang were mainly quoted at RMB 15,120/mt, with premiums of RMB 50/mt against the most active SHFE lead price. Hanjiang was quoted at RMB 15,070/mt, while quotations for Shenqian and brands from Gejiu region were between RMB 15,040-15,050/mt. Smelters mainly fulfilled long-term contracts, and downstream enterprises still purchased as needed to avoid risks, leaving transactions muted.

Key Words:  SHFE lead   lead price   spot lead