SHANGHAI, July 27 (SMM) - The SHFE 2209 lead contract fell rapidly after the opening yesterday. After the opening today, the SHFE 2209 lead contract fell again after rising slightly and fluctuated sideways. As of the closing in noon, the open interest of SHFE 2209 lead contract was 56,314 lots, down 1,608 lots from yesterday. The open interest of SHFE lead contracts was 90,768 lots, down 2,010 lots from yesterday.
In the spot market of secondary refined lead, the quotations during the early trading were relatively poor, but the absolute prices remained flat from yesterday. The overall quotations were in discounts of 250-200 yuan/mt over the SMM1# lead ingots. However, the downstream enterprises were less willing to purchase and the market shipment was modest. Most smelters report that the shipment of small orders was poor.
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