SHANGHAI, Sept. 10 (SMM) – SHFE 1511 lead once drifted higher to RMB 13,410/mt after starting Wednesday evening session at RMB 13,320/mt, to ended up RMB 20/mt at RMB 13,345/mt. With growing sell-off pressure on SHFE lead, the SMM/LME lead price ratio slid to 7.8 from above 8.
SHFE lead sank to RMB 13,280/mt after the open of Thursday trading session. Growth in China’s CPI recorded a 13-month high but PPI slid for 42 months in a line, boosting expectation for demand in China. This helped SHFE lead to touch RMB 13,430/mt before ending at RMB 13,410/mt with a rise of RMB 85/mt. Trading volumes were around 4,952 lots and positions grew 342 to 15,382.