SHANGHAI, May 9 (SMM) – SHFE 1507 lead moved higher to RMB 13,580/mt Friday on expectation for pro-growth measures and ended the day at RMB 13,560/mt, falling RMB 90/mt, or 0.66%. Trading volumes were down 4,830 to 8,424 lots whereas positions climbed 20 to 15,468.
In spot lead market, quotes were RMB 13,750/mt for Chengyuan, Shuangyan (packed in plastic) and Tongguan brands, with premiums of RMB 200-250/mt to SHFE 1507 lead contract prices. Shuangyan (packed in iron) quoted at RMB 13,700/mt. Honglu brand was offered at premiums of RMB 100-120/mt to SHFE 1506 lead contract prices. Some traders started moving goods considering high premiums. Downstream producers bought in small amounts before the weekend. Supply remained tight in Henan province, with branded lead offered at RMB 13,800/mt. Trades were robust in Jiangxi.