SMM Lead Market Daily Review (2015-3-10)

Published: Mar 11, 2015 09:00

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Lead for May delivery on the Shanghai Futures Exchange, the most active contract, opened at RMB 12,245/mt and then fluctuated between RMB 12,270-12,300/mt.

SHANGHAI, Mar. 11 (SMM) – Lead for May delivery on the Shanghai Futures Exchange, the most active contract, opened at RMB 12,245/mt and then fluctuated between RMB 12,270-12,300/mt before ending up RMB 40/mt at RMB 12,270/mt in Monday’s night session.

On Tuesday, SHFE lead initially tested resistance at RMB 12,300/mt, but fell to RMB 12,700/mt in the afternoon trading session before ending up RMB 45/mt, or 0.37% at RMB 12,275/mt. Trading volumes for the most active contract shrank 1,024 lots to 3,154 lots, while positions gained 842 to 16,794.

Chihong Zn & Ge was quoted at RMB 12,420-12,430/mt, a RMB 120-130/mt premium to the most active SHFE 1505 lead contract, but was barely traded in Shanghai on Tuesday. Traded prices were RMB 12,350-12,380/mt for Nanfang and Chengyuan, and RMB 12,320/mt for Humon. Qinxin was sold on par with the most active contract. Chihong Zn & Ge reported no sales, while Humon and Nanfang conducted deliveries. Lead-acid battery producers went bargain-hunting in light volumes. Spot lead prices were some RMB 12,250/mt in Henan, with trading better than in Shanghai.

SHFE lead prices spot lead prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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