SHANGHAI, Jun. 16 (SMM) – The most active SHFE 1408 lead contract opened Thursday’s night session at RMB 14,035/mt, and ended down RMB 80/mt at RMB 13,965/mt. During the night session, traded volumes for the most active contract were 168 lots, and positions were off 64 lots to 5,348 lots. No transactions were reported for the SHFE 1406 lead contract.
On Friday, SHFE lead prices initially dipped to RMB 13,910/mt, hovering between RMB 14,020-14,040/mt during the morning trading session, and rose to the RMB 13,950-13,970/mt range subsequently. Prices for the contract closed down RMB 120/mt at RMB 13,925/mt on Friday. Traded volumes 1,562 lots, and positions added 132 lots to 5,544 lots.
In the Shanghai physical lead market, prices for Chihong Zn & Ge, Nanfang, and Chengyuan brands traded initially at RMB 13,880/mt last Friday, a narrower discount of RMB 60/mt over the most active SHFE 1408 lead contract, but later fell to RMB 13,860/mt. Traded prices were RMB 13,850/mt for Humon, Shuangyan, and Shaanxi Zinc Industry resources. Traders were moving gods actively, and downstream producers also ramped up purchases last Friday.