SHANGHAI, Jan. 14 (SMM) – The most active SHFE lead contract price started at RMB 15,225/mt on January 11 and moved between RMB 15,190-15,210/mt. In the afternoon, as the Shanghai Composite Index was down 1.78% due to the December’s CPI which staged at seven-month high, SHFE lead prices fell to RMB 15,140/mt before ending at RMB 15,190/mt. Trading volumes were up 36 lots to 172 lots, and positions up 4 lots to 2,202 lots.
Spot lead prices in China did not show significant increase. Chihong Zn & Ge was quoted at RMB 14,800/mt, with spot discounts of RMB 400/mt over the most active SHFE lead contract price. Quotations for Dongling and Mengzi were mainly at RMB 14,700/mt, and those for Hanjiang were around RMB 14,690/mt. Cargo holders moved goods actively and downstream buying interest also improved slightly. However, most buyers still purchased as needed.