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SMM Lead Market Daily Review (2013-7-24)
Jul 25,2013 08:54CST
price review forecast
Source:SMM
SHFE 1309 lead contract price started Wednesday at RMB 13,865/mt.

SHANGHAI, Jul. 25 (SMM) – SHFE 1309 lead contract price started Wednesday at RMB 13,865/mt. As Shanghai Composite Index fell 0.5% after the HSBC China manufacturing PMI for July was reported at an 11-month low, base metal dropped, with the most active SHFE lead contract price falling RMB 20/mt. However, as domestic shares stabilized in the afternoon, SHFE lead returned to the opening level and finally ended down RMB 15/mt at RMB 13,845/mt. Trading volumes increased 44 lots to 128 lots, while positions rose 18 lots to 2,568 lots. 

 
In China’s spot markets, lead prices were RMB 10-20/mt lower than Tuesday. Goods of Chihong Zn & Ge were quoted at RMB 13,770/mt, with discounts of RMB 80/mt against the most active SHFE 1309 lead contract price. Prices for Mengzi and YT were offered at RMB 13,750/mt, while Hanjiang was quoted at RMB 13,740/mt. Downstream buyers continued to purchase to order, while smelters held prices firm, with transactions improving slightly. Investors exited the market in the afternoon with SHFE lead stabilizing.
 
SHFE lead price
spot lead price

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