SMM Daily Review - 2012/7/27 Lead Market

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.