SHANGHAI, Jul. 4 (SMM) – On Tuesday, SHFE lead prices opened RMB 135/mt higher at RMB 14,900/mt. In the morning trading, SHFE lead prices fluctuated up to touch RMB 15,000/mt due to longs at RMB 14,950/mt, and finally closed at RMB 14,980/mt, up RMB 215/mt, or 1.46%. Trading volumes were down 48 lots to 260 lots, while positions were down 50 lots to 1,848 lots.
SHFE lead prices started RMB 160/mt higher and fell after rising to the RMB 15,000/mt line on Tuesday. Quotations in China’s spot lead markets increased about RMB 75/mt. Well-known brands including Shuikoushan were quoted at RMB 14,950/mt, with spot premiums of RMB 20/mt over the most active SHFE lead price. Hanjiang was quoted at RMB 14,870/mt and Hengchang was quoted at RMB 14,800/mt. Offers from Nanfang were rarely reported. Smelters were still reluctant to sell goods, while traders were actively moving goods. Purchases by Downstream buyers improved as buyers bought on the way up.