SMM Lead Market Daily Review (2015-5-20)

Published: May 21, 2015 08:32 (GMT+8)

Save

The July-delivery lead contract price in SHFE climbed to RMB 13,280/mt on Wednesday morning as short positions closed.

SHANGHAI, May 20 (SMM) – The July-delivery lead contract price in SHFE climbed to RMB 13,280/mt on Wednesday morning as short positions closed. But in the midday business, the contract tumbled on growing US dollar, to touch day’s low of RMB 13,170/mt. The metal finally ended down RMB 205/mt at RMB 13,180/mt.

In spot market, Tongguan brand was offered a RMB 600/mt premium over SHFE 1507 lead at RMB 13,850/mt. Shuangyan (packed in iron) brand traded at RMB 13,690/mt and Honglu brand RMB 13,350/mt. Few branded lead entered market and lead smelters have received some orders with modest stocks. Shuangyan (packed in iron) and Honglu brands filled cargo holders’ inventories. High price and tight supply dampened downstream purchase. Branded lead traded at RMB 13,800/mt in Henan, versus RMB 13,400/mt in Guangdong. Some news reported that big price gap between Shanghai and Guangdong market has caused some goods to shift from Guangdong to Shanghai.

SHFE 1507 lead prices SPOT LEAD PRICE

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

State Council to Study Policies for Real Estate Stability and Employment Growth

[SMM Flash] State Council Executive Meeting: Roll out a batch of practical and effective incremental policies, and study the introduction of policy measures to stabilize the real estate market and promote employment and income growth.

1 hour ago

China's Refined Zinc Market Sees Pre-Holiday Stockpiling Slow, Trading Quiets Down

[SMM Flash] Today, China's refined zinc spot market overall showed signs of pre-holiday stockpiling winding down and trading turning quiet. Zinc prices continued to consolidate at highs, while downstream enterprises had largely completed their pre-holiday stockpiling and mostly shifted to a wait-and-see stance, resulting in generally moderate market transactions.

1 hour ago

Guangdong Enterprises Complete Stockpiling, Spot Market Transactions Moderate Amid Unchanged Premiums

[SMM Flash] As the holiday approaches, enterprises in Guangdong with stockpiling demand have largely completed their stockpiling. Transactions in the spot market were moderate today. Although some brands quoted higher prices recently, actual transactions were relatively difficult, and spot premiums remained unchanged from yesterday.

1 hour ago