SMM Lead Market Daily Review (2013-11-15)

Nov 18, 2013 09:31

Source:SMM

SHFE 1401 lead contract prices opened at RMB 14,120/mt on November 15 and rose to RMB 14,135/mt with base metals increasing across the board.

SHANGHAI, Nov. 18 (SMM) – SHFE 1401 lead contract prices opened at RMB 14,120/mt on November 15 and rose to RMB 14,135/mt with base metals increasing across the board. In the afternoon, base metals prices were weighed down due to falling LME copper, sending SHFE lead to a low of RMB 14,050/mt, with the SHFE lead for December delivery closing at RMB 14,075/mt, down RMB 30/mt or 0.21%. Traded volumes were down 668 lots to 1,078 lots, and open interest increased to 9,660 lots, up 214 lots.

In Shanghai spot lead market, quotation for Chihong Zn & Ge’s resources was RMB 14,030/mt, a discount of RMB 100/mt against the most active SHFE lead contract price, but transactions were rare. Warehouse warrants for Nanfang and Shuikoushan were traded at RMB 13,960-13,980/mt, while Humon’s goods were sold at RMB 13,960/mt. Cargo holders were unwilling to sell at low prices, expecting prices to rise, while downstream buyers still stayed on the sidelines, leaving trading quiet.

SHFE lead

spot lead prices

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SMM Lead Market Daily Review (2013-11-15)

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