Price Difference Between Primary Lead and Secondary Refined Lead Expanded

SHANGHAI, Feb 27 (SMM) - The prices of SHFE 2303 lead contract bottomed out last Monday along with soaring LME lead prices, and the rally extended until Wednesday. As a result, the price difference between primary lead and secondary refined lead expanded from zero on Monday to 100 yuan/mt in the middle of the week. However, LME lead prices went down on Tuesday and surrendered all of its previous gains on Thursday following the release of the US Federal Reserve’s January meeting minutes, which delivered a hawkish tone. SHFE lead prices were dragged down as well on Thursday, and continued to fall on Friday. Hence, the price difference between primary lead and secondary refined lead gradually shrank to 75 yuan/mt.