SMM Lead Market Daily Review (2015-2-12)

Published: Feb 12, 2015 17:43

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Lead for April delivery on the Shanghai Futures Exchange, the most active contract, fell RMB 115/mt to a trough of RMB 12,310/mt in Wednesday’s night session.

SHANGHAI, Feb. 12 (SMM) – Lead for April delivery on the Shanghai Futures Exchange, the most active contract, fell RMB 115/mt to a trough of RMB 12,310/mt in Wednesday’s night session.

On Thursday, SHFE lead initially slipped to RMB 12,225/mt, but later rebounded some to close down RMB 115/mt, or 0.93% at RMB 12,310/mt. Trading volumes for the most active contract doubled to 9,564 lots, while positions gained 686 to 17,454 lots.

A RMB 140-170/mt fall in SHFE lead dragged down spot lead prices sharply in Shanghai on Thursday. Supplies from Chihong Zn & Ge traded at RMB 12,400-12450/mt with light trading volumes. Traded prices were RMB 12,390-12,420/mt for Nanfang and Chengyuan and RMB 12,370-12,400/mt for Humon. Some lead-acid battery producers went bargain-hunting to replenish input inventories, giving a boost to spot lead trading on Thursday.

SHFE lead prices

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