SHANGHAI, Aug. 15 (SMM) – In Shanghai, Tongguan and Feilong lead was offered at 19,300 yuan per tonne on Tuesday, or premiums of 70 yuan per tonne against SHFE 1709 lead. Humon lead was offered at 19,350 yuan per tonne, 120 yuan per tonne higher against the same contract. Traders lowered interest in making offers, while downstream battery producers increased inquiries and shoed higher purchase enthusiasm. Transaction in Shanghai’s market was modest.
In Guangdong, Shuikoushan lead was offered 19,350 yuan per tonne, 120 yuan per tonne higher than SHFE 1709 lead. Ex-works price of lead offered by Yunnan Xiangyun Feilong Nonferrous Metals was 19,330 yuan per tonne, which was at premiums of 100 yuan per tonne against SHFE 1709 lead. Other enterprises reported limited offers. Traders made firm offers, and downstream battery producers increased replenishment demand.
In Henan, Yuguang lead was offered at 19,400 yuan per tonne for spot transaction, or premiums of 250 yuan per tonne against average #1 SMM lead price. Jiyuan Wanyang Smelting Group and Anyang Minshan Nonferrous Metals only supplied goods for term contracts due to tight supply. Anyang Yubei Gold & Lead Group gave offers of 19,350 yuan per tonne, which was 200 yuan per tonne higher than average #1 SMM lead price. Transaction improved.
Spot transaction offered by Tongguan Nonferrous Metals was 19,300-19,350 yuan per tonne with tight supply, 200-250 yuan per tonne higher than average #1 SMM lead price. Yuteng Nonferrous Metals posted stockout for spot transaction. Guiyang Yinxing Nonferrous Metals and Hunan Yongxing Zhongde Smelting offered spot goods at 19,200 yuan per tonne, or premiums of 50 yuan per tonne.
Supply shortage of refined lead sparked battery producers’ optimistic outlook, and those producers thus expanded purchases, improving transaction in China’s lead market.
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