SHFE Lead Hovers Around 15,300 yuan/mt and Finally Dips 0.26% Today

SHANGHAI, May 8 (SMM) - SHFE 2306 lead opened at 15,300 yuan/mt and once dropped to 15,270 yuan/mt. At last, it closed at 15,275 yuan/mt, down 0.26%. The open interest fell 1,801 lots to 60,677 lots from the previous trading day, and the trading volume dipped 9,158 lots to 41,748 lots.

SHFE lead moved with some declines today. The spot primary lead and secondary lead supply grew, forcing the cargo holders to lower their quotes. However, the downstream companies remained cautious about purchasing. The market saw few actual transactions. The most-traded SHFE lead contract will move rangebound in the short term on a stable macro front.