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SMM Daily Review - 2012/7/13 Lead Market
Jul 16,2012 08:48CST
price review forecast
Source:SMM
SHFE lead prices opened slightly higher at RMB 14,930/mt Friday.

SHANGHAI, Jul. 16 (SMM) – SHFE lead prices opened slightly higher at RMB 14,930/mt Friday. In the morning, China’s 2Q GDP growth was reported at 7.6%, within market expectations. SHFE lead prices moved up influenced by rising Shanghai Stock Exchange Composite Index and continued rising to RMB 14,940/mt in the afternoon to close at RMB 14,960/mt, up RMB 90/mt, standing above the 30-day moving average. Trading volumes were up 130 lots to 196 lots, and positions increased 108 lots to 2,312 lots.

Quotations for Chengyuan and Shuikoushan were mainly between RMB 15,040-15,050/mt, with spot premiums over the most active SHFE lead price at RMB 130-140/mt. Nanfang was quoted at around RMB 15,030/mt and Hanjiang was quoted at RMB 15,000/mt. Offers for brands from Gejiu region were around RMB 15,000/mt. Supply from smelters increased slightly and traders in short of goods were actively looking for suppliers. Downstream buying interest improved, leaving transactions better than the previous trading day.

 

lead price
SHFE lead
spot lead

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