SHANGHAI, Oct. 12 (SMM) – On Thursday, SHFE lead prices opened lower at RMB 15,800/mt due to the 2.5% declines in LME lead prices, but rallied at around 10: 00 a.m. to hover at RMB 15,875/mt boosted by expectations on China’s easing policies. In the afternoon, SHFE lead prices fell again as the A-share moved down to finally close at RMB 15,800/mt, down RMB 90/mt from the previous day. Trading volumes increased 126 lots to 284 lots, and positions were down 74 lots to 1,150 lots.
In China’s spot lead market, most buyers still purchased as needed with spot lead prices remaining stable. Chihong Zn & Ge was mainly quoted at RMB 15,600/mt, with spot discounts over the most active SHFE lead contract price at RMB 250/mt. Dongling was quoted at RMB 15,580/mt, quotations for Hanjiang were RMB 15,540/mt, and Shenqian and Honglu were offered at RMB 15,520/mt.Trading was light. In the afternoon, SHFE lead prices fell, leaving spot market still quiet.