SHANGHAI, Oct. 30 (SMM) – The most active SHFE 1312 lead contract prices fell to RMB 14,400/mt after starting higher at RMB 14,445/m on Tuesday, but closed at an intraday high of RMB 14,480/mt due to increasing buying support, up RMB 45/mt from Monday. Trading volumes added 86 lots, while positions expanded 136 lots to 11,518 lots.
In China’s spot lead market, lead prices held steady. Goods of Jinsha, Nanfang and Chengyuan were traded at RMB 14,300/mt, a discount of around RMB 150/mt over the most active SHFE lead prices. Dongling's resources were sold at RMB 14,250/mt and Humon was traded at RMB 14,180/mt. Lead smelters stepped up moving goods and transactions for deliverable brands picked up, but downstream producers still were reluctant to purchase.