SMM Lead Market Daily Review (2015-8-26)

Published: Aug 27, 2015 08:43

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SHFE 1510 lead opened at RMB 13,240/mt for night trading Tuesday and advanced to RMB13,425/mt in response to the PBOC’s announcement.

SHANGHAI, Aug. 27 (SMM) – SHFE 1510 lead opened at RMB 13,240/mt for night trading Tuesday and advanced to RMB13,425/mt in response to the PBOC’s announcement. The contract closed at RMB 13,340/mt, up RMB 260/mt or 1.99%. Trading volumes dropped 5,124 to 3,728 lots and positions fell 30 to 17,530.

Lead for delivery in October once fell to RMB 13,170/mt during Wednesday trading session and then returned to RMB 13,330/mt. But later, the contract retreated earlier gains in response to a drop in Chinese stock market and closed at RMB 13,205/mt, rising RMB 125/mt. Trading volumes totaled 7,226 lots and positions declined 242 to 17,318.

On Wednesday, Nanfang brand quoted at RMB 13,300-13,310/mt in Shanghai, premiums of RMB 70/mt over SHFE 1510 lead. Trade prices were RMB 13,290-13,300/mt for Jinyuteng and Humon brands, versus RMB 13,250/mt for Shuangyan brand (packed in iron).

Hechi Nanfang Nonferrous Metals Group and Shandong Humon Smelting moved a small portion of goods. Lead prices held firmer due to supply shortage. Hence, large producers cut purchase, leaving trades softening.

SHFE lead prices spot lead price

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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