SHFE New Rule Sees Limited Impact on Easing of Guangdong Lead Inventories

BEIJING (SMM): The Shanghai Futures Exchange (SHFE) announced September 29 that beginning with the SHFE 1502 lead contract, lead futures delivered at certified warehouses in Guangdong will be discounted at a rate of 130 yuan/tonne, Shanghai Metals Market learns. 

The SHFE hopes to reduce high lead inventory pressures in Guangdong by discounting lead futures delivered to Guangdong warehouses. 

As of Oct. 3, SHFE lead inventories totaled 73,782 tonnes.

Courtesy: www.metal.com