SMM Lead Market Daily Review (2013-11-28)

SHANGHAI, Nov. 29 (SMM) – The most active SHFE 1401 lead price started at RMB 13,910/mt and fluctuated narrowly on Thursday, affected by sluggish LME lead price. SHFE lead moved between RMB 14,905-14,945/mt in light trading volumes and finally ended RMB 40/mt lower at RMB 13,910/mt. Transactions gained 100 lots to 1,056 lots, while open interest lost 6 lots to 11,086 lots on Thursday.  

In China’s spot lead market, the weakening SHFE lead price weighed on spot lead price, while tight liquidity flow also exacerbated soft lead fundamentals on Thursday. Goods of Chihong Zn & Ge were traded at RMB 13,850/mt, a discount of RMB 70/mt over the most active SHFE lead price. Torch brand resources were sold at RMB 13,830/mt, while Nanfang goods were traded between RMB 13,820-13,830/mt and its warrants were offered on a par with the most active SHFE lead price. Humon was sold at RMB 13,820/mt. Different lead brands traded virtually at the same price and trading volume was light on Thursday.