SMM Lead Market Daily Review (2015-5-5)

Published: May 6, 2015 09:59

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The June-delivery lead moved between RMB 13,780-13,850/mt Tuesday and ended the day at RMB 13,800/mt.

SHANGHAI, May 6 (SMM) – The June-delivery lead moved between RMB 13,780-13,850/mt Tuesday and ended the day at RMB 13,800/mt, down RMB 45/mt, off 0.33%. Trading volumes totaled 4,712 lots and positions dropped 262 to 12,918. SHFE 1506 lead is expected to test the 5-day moving average.

In spot lead market, prices remained largely stable. Chengyuan and Nanfang quoted at RMB 13,950-13,980/mt, and Tongguan brand was offered at RMB 13,940-13,950/mt. Some goods of Shuangyan (packed in iron) quoted at RMB 13,930/mt and old goods of Qinyuan brand quoted at a RMB 20/mt premium to SHFE 1506 lead contract, Goods of Honglu brand stored previously were offered at a RMB 40/mt discount to SHFE 1506 lead contract. Wait-and-see sentiment loomed, and downstream buyers only bought on needs, waiting for a pullback in prices. Goods from Gejiu region traded at RMB 13,640-13,700/mt in Guangdong. Warehouse warrants were offered at discounts of RMB 110/mt to June-delivery lead.

SHFE lead

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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