SHANGHAI, Apr. 1 (SMM) – SHFE 1506 lead contract prices rose RMB 10/mt Monday evening, while SHFE 1505 lead contract prices dropped RMB 15/mt. Trading volumes shrank for the sixth consecutive trading day, and total positions decreased for a 13th straight trading day.
The June delivery lead contract fell to RMB 12,370/mt after starting the daytime trading Tuesday, but rose back to RMB 12,450/mt after shorts liquidated positions. The prices then drifted lower again to end at RMB 12,360/mt, down by RMB 55/mt. Trading volumes were 1,552 lots, and positions increased 478 to 11,282.
In spot lead market, Chihong Zn & Ge’s lead quoted at RMB 12,430-12,460/mt, premiums of RMB 30-50/mt to SHFE 1506 lead contract. Goods of Nanfang and Chengyuan were offered at discounts of RMB 10/mt to SHFE 1505 lead contract. Humon’s goods were offered at RMB 12,390-12,400/mt. Chihong Zn & Ge and Humon Smelting shipped out a few goods, but downstream buyers were uninterested in purchasing on the final trading day of the month. In Henan, spot lead still quoted at a discount of RMB 50/mt to SMM refined lead prices.