SHANGHAI, Nov. 11 (SMM) – The most active SHFE lead prices followed LME lead prices down to start lower at RMB 14,280/mt Friday, and hovered at RMB 14,290/mt ahead of the afternoon trading session. However, rising risk aversion at the tail of trading caused SHFE 1312 lead contract prices to fall and finally end at an intraday low of RMB 14,250/mt, down RMB 60/mt. Trading volumes contracted 100 lots to 312 lots, and open interest shrank 173 lots to 9,286 lots.
In spot markets, goods of Chihong Zn & Ge were offered at RMB 14,200/mt and traded at RMB 14,180/mt, a discount of RMB 110/mt against the most active SHFE lead contract prices. Nanfang and Dongling were traded at RMB 14,180/mt and RMB 14,150/mt, respectively, while Humon’s resources were sold at RMB 14,130/mt. The market was dominated by bearish sentiment. Smelters were increasingly willing to trade, but downstream producers were not active in purchasing, leaving transactions thin.