SHFE Lead Prices Up 2.21% (2016-9-29)

Published: Sep 29, 2016 17:19
SHFE 1611 lead stabilized at RMB 14,980-15,095/mt on Thursday and ended at RMB 15,005/mt, up RMB 325/mt or 2.21%.

SHANGHAI, Sept. 29 (SMM) – On Wednesday’s night trading, SHFE 1611 lead opened at RMB 14,750/mt. The contract then increased with rising LME lead and hit the year’s highest of RMB 15,045/mt due to position opening by longs. SHFE 1611 lead finally ended at RMB 15,020/mt.

On Thursday, SHFE 1611 lead stabilized at RMB 14,980-15,095/mt and ended at RMB 15,005/mt, up RMB 325/mt or 2.21%. Trading volumes rose 10,022 to 24,256 lots and positions increased 176 to 24,532. Ferrous metals kept soaring in domestic market on Thursday while some base metals posted small losses at the tail of trading after a big rise on Wednesday’s night. SHFE 1611 lead stabilized above RMB 15,000/mt today.

In China’s domestic market, cargo holders held back sales on Thursday for higher prices with tight supply, helping SHFE 1611 lead up.

SHFE 1611 lead should remain buoyant before China’s Nation Day Holiday during October 1-7. 


Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn