SHANGHAI, Oct. 14 (SMM) – The most active SHFE 1411 lead contract hovered at RMB 13,790-13,830/mt during Monday’s night session after starting at RMB 13,795/mt, and ended up RMB 10/mt at RMB 13,825/mt. During the night session, trading volumes for the most active contract totaled 144 lots, and positions shed 2 lots.
On Tuesday, SHFE lead initially fluctuated at RMB 13,750-13,850/mt, and finished down RMB 15/mt at RMB 13,800/mt. Trading volumes were lots, and positions were off 460 lots.
In the Shanghai physical lead market, Chihong Zn & Ge brand traded Tuesday at RMB 13,770-13,780/mt, a RMB 40/mt discount to the most active SHFE 1411 lead contract. Traded prices were RMB 13,750/mt for Nanfang and Humon brands, and rose RMB 20-30/mt subsequently due to supply shortages. Only Humon, among other lead smelters, moved goods in light volumes, while some traders were reluctant to sell, compounding tight supply. Some downstream producers continued purchases, expecting prices to rise, but others expressed lower buying interest. Supply fell short of demand in Henan, Hunan, and Jiangxi on Tuesday as traders and downstream producers rushed to buy.