SHANGHAI, Oct. 23 (SMM) – SHFE 1512 lead opened at RMB 13,180/mt for night trading Wednesday and lurched down to RMB 13,030/mt. Later, the contract advanced to RMB 13,255/mt thanks to position closures by shorts before closing at RMB 13,190/mt, down by RMB 190/mt or 1.42%. Trading volumes grew 850 to 6,442 lots but positions fell 366 to 15,196.
SHFE lead lurched up to RMB 13,350/mt during Thursday trading session and then ranged between RMB 13,220-13,260/mt, to end at RMB 13,265/mt, down RMB 165/mt or 1.23%. Trading volumes grew 6,280 to 13,215 lots but positions fell 1,232 to 14,330.
In Shanghai, Jinsha brand traded at RMB 13,450/mt, RMB 200/mt above SHFE 1512lead, versus RMB 13,400/mt for Chenyuan brand, RMB 13,370-13,00/mt for Nanfang brand, RMB 13,370/mt for Mengzi brand and RMB 13,350-13,360/mt for Humon brand.
Only Humon brand lead was moved to market and post supply basically unchanged from Wednesday. Spot lead prices followed SHFE lead down largely, triggering wait-and-see sentiment in downstream market. Trading activities subdued.
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