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SMM Lead Market Daily Review (2014-10-10)
Oct 10,2014 18:33CST
price review forecast
Source:SMM
Lead for November delivery on the Shanghai Futures Exchange, the most active contract, rose to RMB 13,980/mt during Thursday’s night session.

SHANGHAI, Oct. 10 (SMM) – Lead for November delivery on the Shanghai Futures Exchange, the most active contract, rose to RMB 13,980/mt during Thursday’s night session, but later fell to end down RMB 20/mt at RMB 13,890/mt.

On Friday, SHFE lead initially dropped to RMB 13,815/mt, but later rebounded to RMB 13,880/mt before ending down RMB 105/mt at an intraday low of RMB 13,805/mt. Trading volumes for the SHFE 1411 lead contract totaled 2,472 lots, and positions shed 424 lots to 14,466 lots.

On the Shanghai physical lead market, Chihong Zn & Ge, Nanfang, and Chengyuan brands traded Friday at RMB 13,750/mt, a RMB 120-130/mt discount to the most active SHFE 1411 lead contract. Hanjiang and Humon brands were barely sold. Lead smelters remained disinclined to sell at low prices, with only Chihong Zn & Ge moving goods in light volumes. Traders held low inventories, and a small quantity of hedged goods flocked to the market. Downstream producers, with relatively sufficient raw material inventories, stayed on the sidelines after SHFE lead retreated. Trading activity slowed on Friday.
 

SHFE lead prices

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