SHANGHAI, Jun. 27 (SMM) – Prices for the most active SHFE 1408 lead contract fluctuated largely between RMB 14,045-14,115/mt during Wednesday’s night session, and ended down RMB 40/mt at RMB 14,080/mt. During the night session, SHFE lead prices found support at RMB 14,020-14,040/mt, with trading volumes totaling 94 lots and positions down 14 lots to 7,058 lots.
On Thursday, SHFE lead prices swung largely between RMB 14,080-14,100/mt during the morning trading session, but later advanced to a high of RMB 14,165/mt before ending up RMB 10/mt at RMB 14,130/mt. Trading volumes for the most active contract totaled only 614 lots, and positions added 32 lots to 7,104 lots.
In the Shanghai physical lead market, goods from Chihong Zn & Ge were offered Thursday at RMB 13,920/mt, but traded lower at RMB 13,910/mt. Supply from Shuangyan, Humon, and Hanjiang was sold at RMB 13,900-13,910/mt, with few transactions. Market supply remained sufficient on Thursday, even as lead smelters curtailed deliveries. Downstream producers showed higher willingness to buy after lead prices fell, with traded volumes for low-priced goods up.