SHANGHAI, Feb. 1 (SMM) – The 1304 SHFE lead contract became most active one on January 31, and gapped higher at RMB 15,620/mt as LME lead prices climbed overnight due to the falling US dollar index, a record high for this year. Prices then moved between RMB15,520-15,560/mt and finally ended RMB 75/mt higher at RMB 15,545/mt Trading volumes increased 120 lots to 304 lots, while positions were up 188 lots to 2,272 lots.
Spot lead prices in China continued to increase along with the rising SHFE lead prices, leaving spot discounts over the most active SHFE lead contract price at RMB 400/mt. Chihong Zn & Ge was offered at a high of RMB 14,980/mt, but transactions were mainly made at RMB 14,950/mt. Hanjiang and Mengzi were quoted at RMB 14,850/mt and quotations for Shenqian were around RMB 14,830/mt.