SHANGHAI, Nov. 14 (SMM) – On November 13, the strong bearishness left SHFE lead powerless to resist declines and following LME lead down. SHFE 1312 lead contract price started lower at RMB 14,050/mt and moved lower to RMB 14,000-14,020/mt before finally ending at RMB 14,000/mt, a decline of RMB 105/mt. Traded volumes were up 632 lots to 1,248 lots, while open interest shrank 274 lots to 8,660 lots.
In Shanghai spot lead market, prices fell along with SHFE lead. Prices for Chihong Zn & Ge and Shuikoushan were between RMB 13,980-14,000/mt, a discount of RMB 0-20/mt against the most active SHFE lead contract price. Nanfang was offered at a discount of RMB 10/mt against SHFE 1311 lead contract price. Chengyuan’s prices were RMB 30/mt lower than SHFE 1312 lead contract price. Humon’s goods were sold at RMB 13,970/mt. The lower prices for well-known brands left poor sales for non-leading brands. Downstream buyers were more bearish following the slump, leaving trading thin.