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

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