SHANGHAI, Dec. 17 (SMM) – In the morning Shanghai lead market, lead-acid battery users showed no buying interest due to the previous announcement of new national standards for e-bikes, scheduled to come into effect in January 2010. In recent days, domestic lead trading sentiment was lackluster due to the new rules, stirring lead producer sentiment in maintaining offers firm. In the afternoon market, a piece of good news cheered up the market. China's Standardization Administration said it has suspended the implementation of a plan to reclassify large electric bicycles as motorbikes, and any new rules for e-bikes should be made after hearing opinions and suggestions from all sides.
In this context, SMM believes domestic lead market sentiment will improve, and domestic lead prices will response positively towards a rising LME lead market.
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