SMM Lead Market Daily Review (2015-10-20)

SHANGHAI, Oct. 21 (SMM) - SHFE 1512 lead outperformed others on Monday evening. The contract started at RMB 13,470/mt and once shot up to RMB 13,880/mt with exit of shorts. The price later fell back slightly and ended at RMB 13,530/mt, up by RMB 55/mt or 0.41%. Trading volumes decreased 2,676 to 1,212 lots and positions fell 68 to 15,522.

SHFE 1512 lead narrowly moved between RMB 13,400-13,450/mt during Tuesday trading session and closed down RMB 40/mt or 0.3% at RMB 13,435/mt. Trading volumes were up 116 to 4,004 lots but positions declined 516 to 15,074.

In Shanghai, spot lead prices held firm recently. Jinsha brand quoted RMB 170/mt above SHFE 1512 lead at RMB 13,580/mt on Tuesday with no transactions done, versus RMB 13,520-13,530/mt for Nanfang brand and RMB 13,500/mt for Mengzi brand. Humon brand was initially traded at RMB 13,490/mt and then followed HSFE lead down to RMB 13,470/mt.

Nanfang and Humon brand goods were moved to market, leaving supply healthy. However, downstream lead-acid battery makers cut operation. Trading was left sluggish.