SHANGHAI, Aug. 18 (SMM) – In Shanghai, Yuguang and Tongguan lead was offered at 19,810 yuan per tonne on Friday, 130 yuan per tonne of premiums against SHFE 1709 lead, with limited transaction heard. Shuangyan and Qinyuan were offered at premiums of 100 yuan per tonne against the same contract. Traders were active in selling goods and increased offers after SHFE 1710 lead dropped from highs, and goods delivered on August 15 entered China’s market. However, high premiums kept market participants away from market, and transaction improved after traders lowered premiums.
In Guangdong, Nanhua lead was offered at 19,800 yuan per tonne, 120 yuan higher then SHFE 1709 lead, and Hechi Nanfang Non-ferrous Metal Smelt offered price at 19,780 yuan per tonne, 100 yuan per tonne higher against the same contract. Traders made offers based on market conditions, and downstream battery producers, fearing price to drop, reduced purchases.
In Henan, Anyang Yubei Gold & Lead Group offered price at 19,875 yuan per tonne, 200 yuan per tonne higher than average SMM #1 lead price. Jiyuan Wanyang Smelting Group, Anyang Minshan Nonferrous Metals and Minshan Nonferrous Metals stopped making offers due to insufficient supply. Lead smelters in face of supply shortage still made firm offers, and downstream battery producers will build stocks normally.
Anhui Tongguan lead was 325 yuan per tonne higher than average SMM #1 lead price at 20,000 yuan per tonne. Hunan Shuikoushan Nonferrous Metals Group, Yuteng Nonferrous Metals and Guiyang Yinxing Nonferrous Metals held back offers-making. Spot transaction offered by Hunan Yongxing Zhongde was at 19,725 yuan per tonne, 50 yuan per tonn higher.
Lead market saw few offers for spot transaction on tight supply. Transaction improved as downstream battery producers replenished stocks at low prices.
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