Lead price to get support from production limits

Date 11/9/2018 4:24:17 PM Source: SHMET

SHANGHAI, Nov 9 (SHMET) – Spot lead price rose along with stronger SHFE on November 9. Smelters made normal sales. Spot traders held offers steady and market trades remained low.

On November 9, SHFE lead three month contract fell after it rose. Spot primary lead trades were low. Some primary and secondary lead smelters in Henan and Anhui provinces limited their productions due to environmental protection check, which is likely to support lead price in the short term.

Mainstream offers in Shanghai spot lead market were at 18,750-18,950 yuan/mt on November 9, up 260 yuan/mt from the previous trading day, which had a premium of around 300 yuan/mt compared with 1812 contract. Jinsha brand lead ingots were offered at a premium of around 100 yuan/mt against 1812 contract. Baiyin brand lead ingots were offered at a premium of 80 yuan/mt. A smelter in Henan province was offered at 18,825 yuan/mt.

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