SHANGHAI, Oct. 22 (SMM) – SHFE lead prices opened RMB 65/mt lower at RMB 15,690/mt on Friday. SHFE lead prices hovered around RMB 15,710/mt in the morning and fell to RMB 15,630/mt along with LME lead prices at midday, to finally close at RMB 15,600/mt, down RMB 155/mt or 1%. Trading volumes were up 36 lots to 92 lots, and positions were up 14 lots to 1,186 lots.
Trading in China’s spot lead market was still thin despite lower prices. Well-known brands including Nanfang and Chihong Zn & Ge were quoted at RMB 15,500-15,520/mt, with spot discounts overt the SHFE 1212 lead contract price at RMB 150/mt. Mengzi was offered at RMB 15,400/mt. Quotations for Shenqian were at RMB 15,380/mt. Traders lowered prices but buying interest was low.