SHANGHAI, Jun. 13 (SMM) – The most active SHFE lead contract started Wednesday’s night session at RMB 14,045/mt, and then went up to close at RMB 14,070/mt, down RMB 60/mt from previous session’s settle price of RMB 14130/mt.

On Thursday, SHFE lead prices rebounded to hover mostly at RMB 14,060/mt after falling briefly to RMB 14,035/mt, but finished down RMB 120/mt at an intraday low of RMB 14,010/mt. Traded volumes for the most active contract totaled 752 lots, and positions lost 60 lots to 5,412 lots.

In the Shanghai physical lead market, goods from Chihong Zn & Ge traded Thursday between RMB 13,950-13,970/mt, at an around RMB 100/mt discount over the most active SHFE 1408 lead contract. Traded prices were RMB 13,950/mt for Tongguan,, Nanfang, and Chengyuan resources, and RMB 13,900-13,910/mt for Humon brand and Shuangyan supply wrapped with plastic steel. Chihong Zn & Ge and Humon moved goods, while other lead smelters essentially were disinclined to trade to hold prices firm. Downstream producers expressed little buying interest on Thursday since they considered physical lead prices still too high despite a RMB 20-30/mt fall.