SHANGHAI, Aug. 7 (SMM) – SHFE 1510 lead closed at RMB 12,860/mt for night trading Wednesday, down by RMB 70/mt.
SHFE lead followed China’s A-shares up to RMB 12,920/mt during day trading Thursday. China’s A-shares started to fall in the afternoon and thus base metals were weighed, mirroring that base metals turned more sensitive to Chinese stocks with stronger dollar. The contract finally closed at RMB 12,910/mt, falling RMB 20/mt. Trading volumes were 2,720 lots and positions rose 168 to 17,974.
Nanfang brand was offered RMB 320/mt higher than SHFE 1510 lead at RMB 13,200/mt in Shanghai market, versus RMB 13,180/mt for Humon brand, RMB 13,140-13,160/mt for YT and Jinyuteng brands and RMB 13,030/mt for Shuangyan brand (packed in iron).
Only Shandong Humon Smelting shipped goods out Thursday with shortfalls in the rest brand lead. Some large producers purchased as usual and the reaming downstream buyers showed little buying interest as high temperatures impacted production at those producers and as widening spot discounts in Henan attracted more buyers.