SHANGHAI, Jun. 30 (SMM) – Prices for the most active SHFE 1408 lead contract dipped to a low RMB 14,085/mt after starting Thursday’s night session at RMB 14,150/mt, and ended up RMB 15/mt at RMB 14,140/mt. During the night session, trading volumes for the most active contract totaled 270 lots, and positions gained 134 lots to 7,238 lots.

On Friday, SHFE lead prices hovered largely between RMB 14,110-14,145/mt, and closed up RMB 10/mt, or 0.07%, at RMB 14,135/mt. Trading volumes for the most active contract rose 1,200 lots to 1,814 lots, and positions added 64 lots to 7,168 lot.

In the Shanghai physical lead market, goods from Chihong Zn & Ge traded Friday at RMB 13,930-13,950/mt, a RMB 190 discount over the most active SHFE 1408 lead contract. Traded prices were RMB 13,920/mt for Hanjiang brand, RMB 13,940/mt for Nanfang brand, and RMB 13,890/mt for Humon brand, but trading volumes were extremely light. Lead smelters curtailed deliveries after moving goods actively in the past few days, while downstream producers expressed little buying interest due to tight liquidity at the end of June.