Tight Supply Refrains Transaction in China Lead Market, SMM Reports

Published: Aug 3, 2017 14:08

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Traders in China's market had low price-making interest in response to low inventories, and firm price kept downstream battery producers at sidelines, resulting in sluggish trading.

SHANGHAI, Aug. 3 (SMM) – In Shanghai, lead price offered by Yuguang Gold&Lead was at premiums of 60 yuan per tonne against SHFE 1709 lead on Friday, and Shuangyan lead was offered at premiums of 170 yuan per tonne against SMM #1 average lead price.

In Guangdong, Nanhua and Shuikoushan lead was offered at 18,520 yuan per tonne, 150 yuan per tonne lower than SHFE 1709 lead.

In Jinan, Wanyang stopped making offers due to insufficient goods, and Yuguang offered lead price at 18,700 yuan per tonne, 150 yuan per tonne higher than SMM #1 average lead price. Lead price offered by Yubei was 200 yuan per tonne higher against SMM average price at 18,750 yuan per tonne, and Xinling lead was offered at premius of 50 per tonne.

Yuguang Gold & Lead to Have Technical Innovation on Secondary Lead Recycling

In Anhui, Tongguan offered lead price at 18,800 yuan per tonne, 250 yuan per tonne higher than SMM #1 average lead price, while Jiangxi Jinde stopped making offers on tight supply. Hunan Yuteng gave offers at discounts of 50 yuan per tonne at 18,500 yuan per tonne.

Traders in those markets had low price-making interest in response to low inventories, and firm price kept downstream battery producers at sidelines, resulting in sluggish trading.

In other news, secondary lead mainly traded at 16,300-16,400 yuan per tonne. Traders were active in delivering goods, and made offers with market condition, while downstream battery producers showed low purchase interest. Hence, transaction was poor.

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SHFE lead LME lead lead prices

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.

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