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SMM Lead Market Daily Review (2014-4-29)
Apr 30,2014 08:56CST
price review forecast
Source:SMM
The most active SHFE 1405 lead contract started Monday’s night session at RMB 13,885/mt, and finished down RMB 10/mt at RMB 13,905/mt, with only 12 lots of traded volumes.

SHANGHAI, Apr. 30 (SMM) – The most active SHFE 1405 lead contract started Monday’s night session at RMB 13,885/mt, and finished down RMB 10/mt at RMB 13,905/mt, with only 12 lots of traded volumes. On Tuesday, SHFE lead prices slid as low as RMB 13,860/mt, but recovered some subsequently to hit a high of RMB 13,895/mt before ending down RMB 35/mt at RMB 13,880/mt. Traded volumes rose 562 lots to 1,476 lots, and positions added 26 lots to 6,006 lots. SHFE lead prices should be rather resistant to declines for the near term.

In the Shanghai physical lead market, goods from Chihong Zn & Ge traded initially between RMB 13,940-13,950/mt at a higher premium of RMB 70/mt over the SHFE 1405 lead contract. Quotations for the brand later, however, fell to RMB 13,930/mt due to relatively ample supply and downstream producers regarding physical premiums as too high after SHFE lead prices dropped. Traded prices were RMB 13,920-13,930/mt for Shuangyan and Hanjiang resources and RMB 13,900/mt for Humon brand. Chengyuan entered maintenance cycles, while Nanfang held back goods, with supply from these two brands rarely found in the market. Trading activity was comparatively sluggish Tuesday since downstream producers still had low willingness to build stocks.

 

SHFE lead prices
spot lead prices

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