SHANGHAI, Apr. 2 (SMM) – SHFE 1506 lead contract prices rose on Wednesday thanks to positive PMI data for China, and closed up RMB 45/mt at RMB 12,440/mt. Trading volumes were 1,858 lots, and positions rose by 452 to 11,734.
In spot lead market, Chihong Zn & Ge’s lead quoted at RMB 12,450/mt, a premium of RMB 60/mt to SHFE 1506 lead contract. Goods of Nanfang and Chengyuan were offered at discounts RMB 12,400-12,410/mt. Humon’s goods were offered at RMB 12,390-12,400/mt. Smelters still ship out goods in limited amounts, and some downstream buyers started building stocks for the Tomb Sweeping Day holiday (Apr.4-6). In Henan, spot lead still quoted at a discount of RMB 50/mt to SMM refined lead prices.