SHANGHAI, Jan. 7 (SMM) – Lead for March delivery on the Shanghai Futures Exchange, the most active contract, dipped as low as RMB 12,140/mt in Monday’s night session after opening at RMB 12,290/mt and finished down RMB 75/mt at RMB 12,325/mt. Trading volumes for the SHFE 1503 lead contract totaled 7,326 lots, while positions increased 672 to 19,630.
SHFE lead initially dipped to RMB 12,270/mt, but recovered all losses subsequently to close up RMB 10/mt at RMB 12,410/mt.
Supplies from Yuguang in Shanghai traded Tuesday at RMB 12,530/mt, an around RMB 240/mt premium to the most active SHFE 1503 lead contract. Traded prices were RMB 12,520-12,530/mt for Chihong Zn & Ge and Shuangyan, RMB 12,510/mt for Nanfang and Chengyuan warehouse warrants, and RMB 12,500/mt. Lead warehouse warrants dominated the market on Tuesday with light supply. Downstream producers went bargain-hunting to replenish input stocks.