SHANGHAI, Oct. 20 (SMM) – Lead for December delivery on the Shanghai Futures Exchange became the most active contract on Friday. The price of the SHFE 1412 lead contract hovered largely around RMB 13,470/mt in the morning trading session, and then advanced as high as RMB 13,660/mt before ending down RMB 65/mt at RMB 13,530/mt. Trading volumes for the most active contract totaled 4,234 lots, and positions gained 648 lots to 11,020 lots.
On the Shanghai physical lead market, Chihong Zn & Ge, Nanfang, Tongguan, and Chengyuan brands traded last Friday at RMB 13,610-13,620/mt, a RMB 150-160/mt premium to the SHFE 1411 lead contract. Hanjiang brand was sold at RMB 13,600/mt. Chihong Zn & Ge, Nanfang, and Hanjiang moved goods in light quantities. Downstream producers bought only to need out of fears that lead prices will fall against growing concerns over a global economic slowdown. Trading activity was moderate on last Friday.