SHANGHAI, May 9 (SMM) - SHFE 2306 lead opened at 15,260 yuan/mt and mainly hovered around 15,255 yuan/mt. At last, it closed at 15,245 yuan/mt, down 0.29%. The open interest added 563 lots to 61,240 lots from the previous trading day, and the trading volume dipped 3,237 lots to 38,511 lots.
SHFE lead moved with some drops today. Spot holders shipped cargo due to specific situation. Quotes of deliverable brands in Jiangsu, Zhejiang and Shanghai remained firm, while the spot discounts for factory-delivered goods in other regions further expanded. Downstream companies mostly held a wait-and-see attitude, but some traders intended to restock low-priced spots, pushing up the small order transactions. The most-traded SHFE lead contract will move rangebound in the short term on a stable macro front.