SMM Lead Market Daily Review (2015-7-2)

Published: Jul 3, 2015 09:05

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SHFE 1508 lead started at RMB 12,840/mt during Wednesday evening session and moved between RMB 12,800-12,900/mt, to finally close up RMB 190/mt at RMB12,850/mt.

SHANGHAI, Jul. 3 (SMM) – SHFE 1508 lead started at RMB 12,840/mt during Wednesday evening session and moved between RMB 12,800-12,900/mt, to finally close up RMB 190/mt at RMB12,850/mt.

Market players turned more optimistic Thursday and metals prices grew across the board. The August-delivery lead on the SHFE closed Thursday trading session at RMB 13,100/mt, up RMB 440/mt or 3.48%.

Nanfang, Chengyuan, Tongguan and Hanjiang brands quoted RMB 13,230-13,250/mt in Shanghai market Thursday with spot premiums falling to RMB 270-280/mt over SHFE 1508 lead.

Spot supply increased as Hechi Nanfang Nonferrous Metals Group Co., Guangxi Chengyuan Mining&Smelting Co. and Western Mining Co. all shipped goods out. Futures prices surged unexpectedly on Thursday and downstream producers responded by watching from sidelines. As a result, trading declined slightly yesterday.

SHFE lead prices spot lead prices

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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