SHANGHAI, Oct. 9 (SMM) – SHFE 1512 lead surged 3.3% on Sept. 30 and once touched a high of RMB 13,500/mt.

On Thursday, SHFE 1512 lead started at RMB 13,420/mt and then slipped to RMB 13,330/mt. Later the contract moved around RMB 13,380/mt with shorts exiting market, to end at RMB 13,320/mt, up by RMB 70/mt or 0.53%. Trading volumes fell 768 to 2,374 lots but positions grew 154 to 11,982.

Nanfang brand traded at RMB 13,500-13,520/mt in Shanghai, RMB 30-50/mt higher than SHFE 1511lead. Humon brand was offered at RMB 13,480-13,500/mt, versus RMB 13,490/mt for Mengzi brand and RMB 13,480/mt for Jinsha brand.

Nanfang and Humon brand lead were shipped to market but traders held back sales. Downstream buyers showed little interest with stocks built in holiday and some producers were unwilling to buy at highs.