SMM Lead Market Daily Review (2015-9-15)-Shanghai Metals Market

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SMM Lead Market Daily Review (2015-9-15)

Price Review & Forecast 08:52:22AM Sep 16, 2015 Source:SMM

SHANGHAI, Sept. 16 (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.

On Tuesday, Nanfang brand was offered at RMB 13,370-13,390/mt, RMB 130/mt higher than SHFE 1511 lead, versus RMB 13,360-13,370/mt for Humon brand and RMB 13,350/mt for Shuanyan brand (packed in iron). Mengzi brand lead was RMB 10/mt below SHFE 1510 lead.

Shandong Humon Smelting shipped goods out and traders moved hedged goods out. Nonetheless, downstream buyers were not active in buying and waited for further price falls. 


SMM Lead Market Daily Review (2015-9-15)

Price Review & Forecast 08:52:22AM Sep 16, 2015 Source:SMM

SHANGHAI, Sept. 16 (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.

On Tuesday, Nanfang brand was offered at RMB 13,370-13,390/mt, RMB 130/mt higher than SHFE 1511 lead, versus RMB 13,360-13,370/mt for Humon brand and RMB 13,350/mt for Shuanyan brand (packed in iron). Mengzi brand lead was RMB 10/mt below SHFE 1510 lead.

Shandong Humon Smelting shipped goods out and traders moved hedged goods out. Nonetheless, downstream buyers were not active in buying and waited for further price falls.