SHANGHAI, Nov. 21 (SMM) – Underpinned by stabilizing LME lead price, the most active SHFE 1401 lead contract price rebounded above the RMB 14,000/mt milestone after starting at RMB 13,975/mt on Wednesday. SHFE lead touched a high of RMB 14,020/mt and finally ended the day at RMB 14,015/mt, up RMB 55/mt or 0.39%. Transactions fell 810 lots to 958 lots, while open interest gained 188 lots to 10,520 lots. SHFE lead price continues to move below all moving averages on Wednesday.

 

In Shanghai spot lead market, goods of Chihong Zn & Ge were offered at RMB 13,960/mt and traded at RMB 13,940/mt on Wednesday. Due to amply supply, Nanfang and Chengyuan resources were quoted at a discount of RMB 20/mt over SHFE 1312 lead contract prices and traded between RMB 13,920-13,930/mt. Humon was sold at RMB 13,900/mt. On Wednesday, buying interest of downstream producers increased to some extent with stabilizing lead prices, leaving transactions better than Tuesday.