SHANGHAI, Oct. 29 (SMM) – SHFE lead prices opened at RMB 15,260/mt and fluctuated between RMB 15,230-15,250/mt on October 26. As the US will announce its 3Q GDP data, market risk appetite was lower. In the afternoon, LME lead prices began falling, and stock markets also staged sharp declines. SHFE lead prices closed at an intraday low of RMB 15,140/mt, down RMB 160/mt or 1.05%. Trading volumes were up 78 lots to 270 lots, while positions were down 28 lots to 1,204 lots.
Spot lead prices in China dropped further on October 26. Cargo holders were actively moving goods, with prices for some brands slipping below RMB 15,000/mt, but downstream buying interest remained low. Jinsha was quoted at RMB 15,130/mt, with spot discounts over the SHFE 1212 lead contract price at RMB 120/mt. Dongling was offered at RMB 15,040/mt. Quotations for Wanyang and Jinli were RMB 15,000/mt, and those for Shenqian were RMB 14,950/mt. In the afternoon, SHFE lead prices extended declines, and quotations for Jinsha were lowered to RMB 15,060/mt.