SHANGHAI, Sept. 15 (SMM) – SHFE 1511 lead touched a low of RMB 13,145/mt after starting Monday evening session at RMB 13,175/mt, to close down RMB 60/mt at RMB 13,225/mt.
SHFE lead once moved higher to RMB 13,300/mt on Tuesday but then lurched down to RMB 13,205/mt due to a slump in Chinese stock market and stagnant sentiment in commodity market. The prices finally ended RMB 80/mt lower at RMB 13,205/mt. Trading volumes totaled 5,506 lots with shorts exiting market. Positions decreased 1,244 to 5,506.
SHFE 1509 lead contract was delivered today with final settlement price at RMB 13,245/mt. SHFE 1509 lead finally closed at RMB 13,250/mt with positions only 870.A total of 2,175 mt of lead ingots were delivered for SHFE 1509 lead. Delivered lead was from warehouses in Guangdong. And some were Nanfang brand lead delivered by traders as SHFE front-month contract was RMB 150/mt above spot lead in Shanghai last week.