SHANGHAI, Jun. 9 (SMM) – The most active SHFE 1408 lead contract started Thursday’s night session at RMB 14,015/mt, with the upper end at RMB 14,050/mt and the lower end at RMB 13,995/mt, and ended up RMB 10/mt at RMB 14,020/mt. Traded volumes for the most active contract were 8 lots, while positions were off 4 lots to 5,016 lots. Total traded volumes were only 28 lots.
On Friday, SHFE lead prices opened at RMB 14,020/mt, and hovered mostly between RMB 14,000-14,035/mt before closing up RMB 20/mt, or 0.14%, at RMB 14,030/mt. Traded volumes gained 138 lots to 322 lots, while positions shed 26 lots to 4,994 lots.
In China’s physical lead markets, goods from Chihong Zn & Ge traded Friday at RMB 13,890-13,900/mt, a RMB 110/mt discount over the most active SHFE 1408 lead contract. Traded prices were RMB 13,890/mt for Humon brand and Shuangyan supply wrapped with plastic steel, and RMB 13,840/mt for Shuangyan supply wrapped with iron sheet and resources from Shaanxi Zinc Industry. Traders continued to move goods actively, with prices subdued by sufficient supply from leading brands, while downstream producers expressed little buying interest, resulting in light transactions on Friday.