SHANGHAI, Apr. 22 (SMM) – SHFE 1506 lead, the most active contract, hit a high of RMB 13,645/mt Monday evening session and ended at RMB 13,475/mt, down RMB 80/mt.
The June delivery lead edged up to RMB 13,500/mt and ended at RMB 13,475/mt on Tuesday, down RMB 80/mt as some investors booked profits. Trading volumes totaled 9,088 lots and positions fell 886 to 15,672. SMM/LME lead price ratio rebounded to 6.7 due to tight supply in China’s spot lead market and growing electric vehicle battery prices.
In spot lead market, prices held firm. Chengyuan, Nanfang and Tongguan quoted RMB 13,600-13,630/mt, with premiums of RMB 90-110/mt. Humon offered RMB 13,590-13,600/mt. Supply remained tight, while downstream buyers were more cautious towards purchases after SHFE lead declined. Quotations in Henan, Hunan, and Jiangxi remained high, and goods in Guangdong were offered at RMB 13,320-13,450/mt. Sales of lead from Gejiu were robust.