SMM Lead Market Daily Review (2013-1-10)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Production data
  • Market commentary
  • Macroeconomics
  • Morning comments
  • Futures movement
  • NPI
  • Copper
  • Aluminium
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

SMM Lead Market Daily Review (2013-1-10)

Price Review & Forecast 09:16:39AM Jan 11, 2013 Source:SMM

SHANGHAI, Jan. 11 (SMM) –The most active SHFE lead contract price started at RMB 15,120/mt on January 10 given the positive foreign trade data for December. Prices then moved between RMB 15,150-15,170/mt and closed at RMB 15,200/mt, up RMB 75/mt. Longs showed strong trends boosted by favorable reports. Trading volumes were up 12 lots to 136 lots, and positions fell 12 lots to 2,198 lots.

SHFE lead prices moved up due to better-than-expected trade data for December and investors were optimistic to spot lead market. Chihong Zn & Ge was quoted at RMB 14,780/mt, with spot discounts of RMB 380/mt over the most active SHFE lead contract price. Quotations for Hanjiang were mainly at RMB 14,690/mt, and those for Shenqian were around RMB 14,640/mt. Downstream buyers mainly purchased as needed.

 

SMM Lead Market Daily Review (2013-1-10)

Price Review & Forecast 09:16:39AM Jan 11, 2013 Source:SMM

SHANGHAI, Jan. 11 (SMM) –The most active SHFE lead contract price started at RMB 15,120/mt on January 10 given the positive foreign trade data for December. Prices then moved between RMB 15,150-15,170/mt and closed at RMB 15,200/mt, up RMB 75/mt. Longs showed strong trends boosted by favorable reports. Trading volumes were up 12 lots to 136 lots, and positions fell 12 lots to 2,198 lots.

SHFE lead prices moved up due to better-than-expected trade data for December and investors were optimistic to spot lead market. Chihong Zn & Ge was quoted at RMB 14,780/mt, with spot discounts of RMB 380/mt over the most active SHFE lead contract price. Quotations for Hanjiang were mainly at RMB 14,690/mt, and those for Shenqian were around RMB 14,640/mt. Downstream buyers mainly purchased as needed.