SMM Lead Market Daily Review (2013-3-22)

SHANGHAI, Mar. 25 (SMM) – Prices of the most active SHFE lead contracts opened RMB 90/mt lower at RMB 14,590/mt on March 22, moving within RMB 14,520-14,530/mt in the morning session on thin trading activity. In the afternoon, more investors closed positions as Cyprus received an ultimatum to reach a bailout deal by Monday. Finally, the most-traded SHFE lead contract closed RMB 90/mt lower at RMB 14,500/mt. Trading volumes increased 18 lots to 106 lots, while positions decreased 48 lots to 2,098 lots.

Chihong Zn & Ge lead was traded around RMB 14,470/mt last Friday, a discount of RMB 60/mt over the most active SHFE lead contract prices. Traded prices were RMB 14,450/mt for Nanfang lead and RMB 14,430/mt for Yuguang lead, a discount of RMB 10/mt over SHFE 1304 lead contract prices. Trading remained thin as both sides watched from the sidelines.