SMM Lead Market Daily Review (2015-9-18)

SHANGHAI, Sept. 21 (SMM) – SHFE 1511 lead started at RMB 13,300/mt during Thursday evening and then increased, to close at RMB 1,360/mt, up by RMB 15/mt.

SHFE lead moved narrowly in RMB 13,300-13,340/mt before ending at RMB 13,320/mt, losing RMB 25/mt. Trading volumes totaled 2,394 lots and positions grew 190 to 13,312.

Nanfang brand was offered RMB 110/mt above SHFE 1511 lead at RMB 13,420-13,430/mt in Shanghai. Humon and Mengzi brands traded at RMB 13,400/mt, versus RMB 13,350-13,380/mt for Ximai brand and Shuangyan brand (packed in iron).

Shipment of Humon brand lead entered market. SHFE lead prices flat with a day ago and thus traders were unwilling to moved hedged goods to market. Consequently, spot supply tightened in market. High prices curbed purchase by downstream buyers, leaving trades muted.