SHANGHAI, Feb. 25 (SMM) – The most active SHFE lead contract price dipped to a low of RMB 15,030/mt after opening at RMB 15,090/mt on Friday, but later stabilized to move around RMB 15,080/mt. At the tail of trading, SHFE lead prices showed a sign of rebounding but still lacked impetus due to depressed stock markets to finally close at RMB 15,115/mt, up RMB 75/mt from the previous trading day. Trading volumes increased 1306 lots to 400 lots, while positions were down 102 lots to 2,332 lots.
Quotations for Chihong Zn & Ge in China’s spot lead market were around RMB 14,880/mt, with spot discounts over the most active SHFE lead price narrowing to RMB 200/mt, driving some arbitrage traders liquidated positions. Shuangyan was offered at RMB 14,780/mt, while Dongling and Hanjiang were quoted at RMB 14,730-14,740/mt. Quotations for Shenqian were lower at RMB 14,720/mt. Downstream buyers only purchased as needed due to limited orders and unclear outlook.