SHANGHAI, Oct 25 (SMM) - Yesterday, the SHFE 2211 lead contract surged up quickly after opening and hovered sideways around 15,385 yuan/mt. SHFE 2211 lead contract fell slightly, and then remained volatile. SHFE 2211 lead contract closed at 15,335 yuan/mt, up 0.13% as of noon. The open interest was 35,319 lots, down 10,913 lots from yesterday. The open interest of SHFE 2210 lead contract increase 9,046 lots.
In terms of the spot market of secondary lead, most smelters quoted stably. However, a small number of smelters were affected by the poor shipments and slightly lowered their prices to increase shipments. In the market, secondary refined lead was generally shipped in discounts of 200 yuan/mt against SMM 1# lead ingots, and some smelters shipped in discounts of 250 yuan/mt against SMM1# lead ingots. The shipments of secondary lead smelters slightly decreased compared with yesterday, and downstream companies were more willing to purchase on dips.
