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SMM Lead Market Daily Review (2013-7-5)
Jul 8,2013 08:35CST
price review forecast
Source:SMM
SHFE 1309 lead contract price opened RMB 15/mt lower at RMB 13,905/mt on July 5, and hovered around RMB 13,900/mt in the morning trading session.

SHANGHAI, Jul. 8 (SMM) – SHFE 1309 lead contract price opened RMB 15/mt lower at RMB 13,905/mt on July 5, and hovered around RMB 13,900/mt in the morning trading session. Investors took profits and exited the market in the afternoon given the upcoming weekend, driving SHFE lead to dip to a low of RMB 13,840/mt, only RMB 20/mt higher than the yearly low. However, price for the most active contract stabilized at the tail of trading to finally ended at RMB 13,880/mt, down RMB 65/mt. The Shanghai Composite Index moved narrowly after standing above 2,000 on the previous trading day and closed the week at 2,007, lending little support to SHFE lead prices. Trading volumes for the most active SHFE lead contract increased 50 lots to 156 lots, while positions were up 116 lots to 2,122 lots. Settlement price was RMB 13,889/mt. 

 
Spot lead prices edged RMB 20-30/mt lower from the previous trading day. Mengzi was offered at RMB 13,730/mt, and Hanjiang was quoted at RMB 13,725/mt. Warrants for Yubei were offered at RMB 13,720/mt, with premiums of RMB 20/mt over SHFE 1307 lead contract price. Lower lead prices caused some smelters to cut supplies, while downstream buyers still purchased to orders. Transactions between traders were also quiet. 
 
SHFE lead price
spot lead price

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