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#1 Lead Price Movement in Shanghai Market

#1 Lead Price Movement in Shanghai Market (2014-2-20)

Feb 20, 2014 06:22 GMT   Source:SMM

SHANGHAI, Feb. 20 (SMM) – In the Shanghai physical lead market, goods of Chihong Zn & Ge traded on Thursday mostly between RMB 13,890-13,900/mt with discounts of around RMB 130/mt over the most active SHFE lead contract prices. Shuikoushan and Tongguan resources were quoted at RMB 13,880/mt, but traded lightly, and Humon and Shuangyan lead brands were sold at RMB 13,870/mt. Chihong Zn & Ge did not move goods on Thursday, and most available supply on the market was from traders. As downstream producers gradually started production and their raw material inventories declined, they had some demand for restocking and made a lot of inquiries. Due to fears that lead prices may fall further and tight liquidity at these downstream producers, transactions remained light on Thursday, though. 

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