SMM Daily Review - 2012/7/27 Lead Market-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Futures movement
  • MMi Iron Ore Port Index
  • Copper scrap
  • Inventory data
  • Nickel
  • Copper
  • Aluminium
  • Evening comments
  • Stainless steel
  • Macroeconomics
  • Production data
  • Tin
  • Market commentary
  • inventory

SMM Daily Review - 2012/7/27 Lead Market

Price Review & Forecast 08:47:54AM Jul 30, 2012 Source:SMM

SHANGHAI, Jul. 30 (SMM) – SHFE lead prices rose after opening higher at RMB 14,835/mt July 27. SHFE lead fluctuated up and gained strong buying support at RMB 14,950/mt, regaining the losses since early this week, with prices finally closing at RMB 15,000/mt, up RMB 210/mt. Trading volumes were down 10 lots to 194 lots, while positions fell 50 lots to 2,742 lots.

In China, spot lead prices were returned above RMB 15,000/mt. Nanfang, Chengyuan and Shuikoushan were quoted between RMB 15,000-15,020/mt, with spot premiums over the most active SHFE lead price at RMB 100/mt. Quotations for Hanjiang and Mengzi were RMB 14,980/mt and RMB 14,960/mt, respectively. Cargo holders were actively moving goods, and downstream replenishments improved slightly ahead of the weekend.

Key Words:  lead price   SHFE lead   spot lead 

SMM Daily Review - 2012/7/27 Lead Market

Price Review & Forecast 08:47:54AM Jul 30, 2012 Source:SMM

SHANGHAI, Jul. 30 (SMM) – SHFE lead prices rose after opening higher at RMB 14,835/mt July 27. SHFE lead fluctuated up and gained strong buying support at RMB 14,950/mt, regaining the losses since early this week, with prices finally closing at RMB 15,000/mt, up RMB 210/mt. Trading volumes were down 10 lots to 194 lots, while positions fell 50 lots to 2,742 lots.

In China, spot lead prices were returned above RMB 15,000/mt. Nanfang, Chengyuan and Shuikoushan were quoted between RMB 15,000-15,020/mt, with spot premiums over the most active SHFE lead price at RMB 100/mt. Quotations for Hanjiang and Mengzi were RMB 14,980/mt and RMB 14,960/mt, respectively. Cargo holders were actively moving goods, and downstream replenishments improved slightly ahead of the weekend.

Key Words:  lead price   SHFE lead   spot lead