SHANGHAI, Apr. 2 (SMM) – The most active SHFE 1405 lead contract price fluctuated between RMB 13,740-13,750/mt after starting at RMB 13,735/mt, and closed down RMB 30/mt, at RMB 13,750/mt during Monday’s night session. Trading volumes were only 4 lots, and positions were off 2 lots to 7,214 lots. On Tuesday, SHFE 1405 lead contract prices hovered most of the day narrowly around RMB 13,730/mt. During the daytime trading session, trading volumes fell to 476 lots, and positions were off 18 lots to 7,198 lots on Tuesday.
In the Shanghai physical lead market, goods from Chihong Zn & Ge and Nanfang traded Tuesday between RMB 13,670-13,680/mt, a discount of around RMB 55/mt over SHFE 1405 lead contract prices. Humon resources were offered at RMB 13,680/mt, but were barely sold, while Shuangyan supply wrapped with iron sheet traded at RMB 13,630/mt. Chihong Zn & Ge and Humon did not move goods on Tuesday, while lead-acid battery producers still had little buying interest due to declines in SHFE lead prices and the absence of banking loans for April. Overall, trading activity was quite light.