SMM Lead Market Daily Review (2015-5-14)

Published: May 15, 2015 09:08

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SHFE 1507 lead dipped to RMB 13,405/mt after opening at RMB 13,580/mt Wednesday night.

SHANGHAI, May 14 (SMM) - SHFE 1507 lead dipped to RMB 13,405/mt after opening at RMB 13,580/mt Wednesday night. The metal ended at RMB 13,455/mt, falling RMB 35/mt. The contract fell back to RMB 13,410/mt after starting Thursday’s trading session and then found support at RMB 13,400/mt to touch RMB 13,570/mt. The July delivery lead contract finished at RMB 13,550/mt, climbing RMB 60/mt or 0.44%. Trading volumes dropped 1,086 to 5,860 lots and positions fell 266 to 15,068.

In China’s spot market, Nanfang brand traded at RMB 13,810-13,900/mt and Tongguan brand was offered a RMB 300-400/mt premium over SHFE 1507 lead at RMB 13,800/mt. Honglu goods were RMB 50/mt higher than SHFE 1506 lead contract price. Quote was RMB 13,650/mt for Shuangyan (packed in iron) brand. Those lead smelters showed little selling interest and traders also held back goods for limited stocks. Trades were depressed by high spot prices.

SHFE LEAD SHFE lead prices

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