SHFE lead to stabilize

Date 11/8/2018 5:33:48 PM Source: SHMET

SHANGHAI, Nov 8 (SHMET) – offers for spot lead market changed little on November 8. Smelters made normal sales. Market trades were low as downstream producers made a limited purchase.

SHFE lead three month contract price stabilized, mainly driven by shorts closing. Some smelters were unwilling to lower lead price as they had less spot lead inventory. Market trades, however, had a sign of weakening.

Mainstream offers in Shanghai spot lead market were at 18,480-18,700 yuan/mt on November 8, up 50 yuan/mt from the previous trading day, which had a premium of 80-300 yuan/mt compared with 1812 contract. Jinsha brand lead ingots were offered at a premium of 300 yuan/mt against 1812 contract. Baiyin brand lead ingots were offered at a premium of 80 yuan/mt. Imported lead were offered at a discount of 150 yuan/mt against 1812 contract.

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