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SMM Lead Market Daily Review (2015-11-4)
Nov 5,2015 08:58CST
SMM Comments
Source:SMM
SHFE 1512 lead gapped lower at RMB 13,005/mt for night trading Tuesday and then ranged between RMB 12,910-13,125/mt.

SHANGHAI, Nov. 5 (SMM) – SHFE 1512 lead gapped lower at RMB 13,005/mt for night trading Tuesday and then ranged between RMB 12,910-13,125/mt with closing prices down RMB 60/mt or 0.46% at RMB 13045/mt. Trading volumes sew a slip of 1,976 to 918 and positions declined 56 to 11,424.

The December-delivery lead in the SHFE opened at RMB 13,060/mt and moved higher to RMB 13,165/mt due to expectation for more inflation about China’s 13th five-year plan. Later, the contract surged above the 5-day moving average answering to Chinese stock market and closed at RMB 13,20/mt, up by RMB 100/mt or 0.76%. Trading volumes were up 576 to 3,470 lots but positions declined 144 to 11,336.

In Shanghai, Chengyuan and Nanfang brand prices were largely at RMB 13,230-13,240/mt, RMB 80/mt above SHFE 1512 lead. Traded prices were RMB 13,220-13,250/mt for Mengzi brand with several trades made at RMB 13,220/mt, versus RMB 13,200-13,210/mt for Humon brand.

Only Shandong Humon Smelting moved goods to market and market activities declined markedly. Few traders gave their price offers. Downstream buyers stayed quiet. Markets saw light transactions.

SHFE lead price
spot lead price

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