SHANGHAI, Sept. 28 (SMM) – SHFE 1511 lead opened Thursday evening session at RMB 13,245/mt and once drifted higher to RMB 13,315/mt, to close at RMB 13,275/mt, up RMB 60/mt.
SHFE lead fluctuated between RMB 13,250-13,290/mt on Friday and once moved higher to RMB 13,310/mt, to end at RMB 13,290/mt, up RMB 75/mt. Trading volumes were 5,170 lots and positions grew 216 to 13,346.
In Shanghai, Chengyuan brand was offered RMB 210/mt above SHFE 1511 lead at RMB 13,480/mt last Friday. Humon brand traded at RMB 13,450/mt, versus RMB 13,430/mt for Yuteng brand and RMB 13,420/mt for Honglu brand.
Only Shandong Humon Smelting shipped goods to market and traders were unwilling to shipped hedged goods out with a rise in SHFE lead prices. High prices offers by sellers depressed downstream purchase.