SMM Lead Market Daily Review (2015-4-29)

SHANGHAI, Apr. 30 (SMM) – The most active SHFE 1506 lead ended at RMB 13,720/mt Tuesday night, down RMB 70/mt. The June delivery lead dropped to RMB 13,645/mt Wednesday morning but later rolled back its early losses on profit-taking. The most active contract ended the day at RMB 13,730/mt, down RMB 60/mt.

In spot lead market, Chihong Zn & Ge and Nanfang offered RMB 13,870/mt, with premiums of RMB 150/mt to SHFE 1506 lead contract prices. Humon and Tongguan brands quoted RMB 13,820-13,850/mt. Tongguan, Nanfang and Humon shipped out some goods, driving up spot supply, but most smelters held prices around RMB 13,850/mt. Some hedged goods were offered at lower prices and favored by downstream buyers. Transactions were still limited for high-priced goods. The price gap between secondary and #1 lead remained at RMB 400/mt. In Henan, traded prices were around RMB 13,800/mt. Downstream producers in Jiangxi replenished stocks for the upcoming May Day holiday.