SHANGHAI, Mar. 23 (SMM) – SHFE 1505 lead contract started at RMB 12,135/mt Thursday evening and once fell to RMB 12,080/mt, but rallied later to end night session at RMB 12,110/mt, up RMB 20/mt.

The May-delivery lead mainly traded at RMB 12,110-12,135/mt Friday morning, and held steady in the after against declines in other base metals helped buying support. SHFE 1505 lead contract ended the daytime trading at RMB 12,070/mt, down by RMB 20/mt. Trading volumes were 3,042 lots, and positions declined 14 to 15,674.

Prices offers for lead produced by Chihong Zn & Ge were about RMB 12,280/mt, with premiums of RMB 150/mt to SHFE 1505 lead contract prices. Goods of Humon, Chengyuan and Nanfang were offered at RMB 12,250-12,260/mt. Goods availability in spot lead market increased, but downstream buyers only purchased as needed. Trading volumes continued to decline. Henan’s lead smelters moved goods actively and quoted at discounts of RMB 100-130/mt against SMM refined lead prices.