SHANGHAI, Aug. 10 (SMM) – During Thursday evening session, SHFE 1510 lead started at RMB 12,830/mt and ended at RMB 12,855/mt.
SHFE lead opened at RMB 12,845/mt for day trading Friday and then narrowly range between RMB 12,845-12,870/mt. The price dived to RMB 12,760/mt responding to volatile dollar but regained some losses near session’s end, to close at RMB 12,800/mt, down RMB 75/mt. Trading volumes totaled 4,470 lots and positions grew 188 to 18,162.
Humon brand quoted RMB 320/mt higher than SHFE 1510 lead at RMB 13,170/mt in Shanghai. Mainstream prices were RMB 13,140-13,150/mt for YT and Yuteng brands, versus RMB 13,030/mt for Shuangyan brand (packed in iron).
Shandong Humon Smelting shipped goods out and deals were mainly made for this brand. Lead-acid battery makers announced to raise battery prices but downstream buyers did not increase purchase, mirroring weak confidence in market.