SHANGHAI, Nov. 22 (SMM) – The most active SHFE 1401 lead contract price started at RMB 14,015/mt on Thursday before dipping below RMB 14,000/mt, and extended losses in afternoon trading session, touching a low of RMB 13,920/mt. LME lead price and the Shanghai Composite Index narrowed their losses before the end of the trading, giving a boost to SHFE lead price. SHFE lead finally ended at RMB 13,950/mt, down RMB 55/mt or 0.39% on Thursday. Transactions expanded 180 lots to 1,138 lots, while open interest increased 6 lots to 10,526 lots.

 

In China’s spot lead market, goods of Chihong Zn & Ge were offered at RMB 13,930/mt, a discount of RMB 40/mt over the most active SHFE lead price. Yuguang resources were quoted at premiums of RMB 50 over SHFE 1312 lead price, while Nanfang and Chengyuan traded between RMB 13,870-13,890/mt, flat with SHFE 1312 lead price. Humon, Hanjiang and Shuangyan were sold in a RMB 13,870-13,880/mt band. On Thursday, smelters were reluctant to move goods, while downstream producers had low buying interest, for fear of lead price declining further and relatively tight liquidity.