SHANGHAI, Jun. 18 (SMM) – SHFE 1508 lead opened Tuesday evening session at RMB 12,720/mt and hovered between RMB 12,720-12,780/mt, to close at RMB 12,730/mt.
SHFE 1508 lead fluctuated between RMB 13,730-13,770/mt during Wednesday trading session and closed the session at RMB 12,705/mt with a loss of RMB 25/mt. Trading volumes totaled 4,658 lots while positions decreased 368 to 14,024.
In spot lead market, Nanfang, Chengyuan and Tongguan brands were offered a RMB 590/mt premium over SHFE 1508 lead, with the price at RMB 13,320-13,350/mt. Shuangyan (packed in iron) and older Honglu brand goods quoted RMB 13,080-13,100/mt.
Spot lead availability increased with some Tongguan, Nanfang and Chengyuan brands goods flowing into Shanghai market. Traders built some stocks due to recent tightness in branded lead in Shanghai. Downstream buyers did not replenish stocks despite the upcoming Dragon Boat Festival.
Spot discounts in Henan left unchanged against averaged SMM#1 lead price while it was difficult to source goods in Guangdong market.