SHANGHAI, Apr. 7 (SMM) – SHFE 1506 lead contract prices climbed rapidly before midday of Friday as long positions grew, and closed the day up RMB 190/mt at RMB 12,660/mt. Trading volumes were 3,838 lots, and positions increased 812 to 13,422. Tight supply in spot lead prices also helped bolster SHFE lead.
In spot lead market, Chihong Zn & Ge’s lead quoted at RMB 12,600/mt, a premium of RMB 20-50/mt to SHFE 1506 lead contract. Goods of Nanfang and Chengyuan were offered at RMB 12,550-12,600/mt. Humon’s goods were offered at RMB 12,500-12,540/mt. Lead supply tightened with smelters holding goods back, leaving prices firm.