SHANGHAI, Oct. 19 (SMM) – SHFE 1512 lead started below the 5-day moving average at RMB 13,555/mt on Thursday night and dived to RMB 13,455/mt responding to LME lead. Later, the contract rebounded and ended at RMB 13,545/mt, down by RMB 35/mt. Positions fell 196 to 15,172.
SHFE 1512 drifted lower to RMB 13,380/mt on Friday and ended RMB 190/mt or 1.4% lower at RMB 13,390/mt. Trading volumes increased 600 to 4,662 lots but positions fell 234 to 15,134.
Jinsha brand quoted RMB 60-110/mt above SHFE 1512 lead at RMB 13,570-13,620/mt last Friday in Shanghai, versus RMB 13,570/mt for Nanfang brand, RMB 13,560/mt for Humon brand and RMB 13,540-13,550/mt for Mengzi brand.
Jinsha and Nanfang brand lead were shipped to market with spot supply flat with Thursday. Motive battery makers cut operation, decreasing demand for refined lead. Transactions were left muted before weekend.