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SMM Lead Market Daily Review (2015-1-22)

iconJan 23, 2015 09:03
Source:SMM
Lead for March delivery on the Shanghai Futures Exchange, the most active contract, rallied to RMB 12,695/mt after opening at RMB 12,445/mt in Wednesday’s night session.

SHANGHAI, Jan. 23 (SMM) – Lead for March delivery on the Shanghai Futures Exchange, the most active contract, rallied to RMB 12,695/mt after opening at RMB 12,445/mt in Wednesday’s night session and closed up RMB 155/mt, or 1.24% at RMB 12,650/mt.

On Thursday, SHFE lead hovered at RMB 12,605-12,645/mt and finished up RMB 120/mt, or 0.96% at RMB 12,615/mt. Trading volumes for the most active contract gained 576 lots to 9,198 lots, while positions shed 1,352 to 17,216.

Supplies from Chihong Zn & Ge traded at RMB 12,650-12,670/mt in Shanghai on Thursday, a RMB 50/mt premium to the most active SHFE 1503 lead contract. Traded prices were RMB 12,600/mt for Humon and RMB 12,590/mt for Shuangyan.

Lead smelters sold at firm prices against shortages of lead in Shanghai, while traders bought only as needed. Lead-acid battery producers reverted to a wait-and-see stance and were unwilling to buy due to mounting finished goods inventories.
 

SHFE lead prices
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