SMM Lead Market Daily Review (2013-10-16)

Price Review & Forecast 06:58:22AM Oct 17, 2013 Source:SMM

SHANGHAI, Oct. 17 (SMM) – The most active SHFE lead contract price rose to RMB 14,285/mt after opening at RMB 14,220/mt on Wednesday, but was dragged down to RMB 14,250/mt in morning trading session by falls in LME lead and the Shanghai Composite Index. The SHFE lead for December delivery dropped further to RMB 14,190/mt in the afternoon before closing at RMB 14,220/mt, up RMB 5/mt from Tuesday. Traded volumes added 616 lots to 1,202 lots, and positions were up 260 lots to 9,280 lots. Selling pressure increased. 

 
Spot lead prices in Shanghai remained little changed from the previous trading day. Prices for Jinsha, Chengyuan, and Shuikoushan were between RMB 14,110-14,120/mt, with a contango of RMB 130/mt against the most active SHFE lead contract price. Humon was traded at RMB 14,050/mt. Supply for branded lead increased, but low-priced goods available in the market were limited. Buying interest remained weak, leaving poor transactions.
 

SMM Lead Market Daily Review (2013-10-16)

Price Review & Forecast 06:58:22AM Oct 17, 2013 Source:SMM

SHANGHAI, Oct. 17 (SMM) – The most active SHFE lead contract price rose to RMB 14,285/mt after opening at RMB 14,220/mt on Wednesday, but was dragged down to RMB 14,250/mt in morning trading session by falls in LME lead and the Shanghai Composite Index. The SHFE lead for December delivery dropped further to RMB 14,190/mt in the afternoon before closing at RMB 14,220/mt, up RMB 5/mt from Tuesday. Traded volumes added 616 lots to 1,202 lots, and positions were up 260 lots to 9,280 lots. Selling pressure increased. 

 
Spot lead prices in Shanghai remained little changed from the previous trading day. Prices for Jinsha, Chengyuan, and Shuikoushan were between RMB 14,110-14,120/mt, with a contango of RMB 130/mt against the most active SHFE lead contract price. Humon was traded at RMB 14,050/mt. Supply for branded lead increased, but low-priced goods available in the market were limited. Buying interest remained weak, leaving poor transactions.