SMM’s survey of 12 major secondary lead smelters reveals the average operating rate at the surveyed smelters during April was only 45.44%, down from 52.97% in March.
The government has put increasing pilot cities for property tax trials on the work agenda this year, the China Securities Journal reported Monday.
A new government report, made public on Monday, has predicted that China's maritime industry will see relatively fast growth in the next 17 years.
Gold futures on the COMEX division of the New York Mercantile Exchange on Monday went up on short covering, snapping a seven-session losing streak.
Oil prices continued to rise on Monday as falling U.S. dollar sparked interest in oil.
LME lead prices opened at USD 2,014/mt overnight.
SMM conducted a survey to industry insiders concerning lead price trends this week.
China's April fiscal earnings were down, but retail sales and industry production data was positive, allowing the Shanghai Composite Index to hover near recent highs.
On May 20, SHFE 1306 lead contract price was weighed on by the strong US dollar.
On Monday, SHFE lead prices moved around RMB 13,800/mt and consumption in China’s spot lead markets improved from last week.
SHFE lead prices were little affected by LME lead last week, moving only narrowly between RMB 13,730-13,830/mt, with most investors unwilling to enter the market.
SMM’s survey of 12 major secondary lead smelters reveals the average operating rate at the surveyed smelters during April was only 45.44%, down from 52.97% in March.
SHFE Market Movement
SMM’s latest survey of 49 Chinese primary lead smelters showed the average operating rate at surveyed smelters edged up 3.31 percentage points to 57.64% in April.
Gold futures on the COMEX division of the New York Mercantile Exchange slumped on Friday for the seventh consecutive session.
Oil prices extended rally Friday on upbeat U.S. economic data as well as positive performance in U.S. commodity markets.
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