SHANGHAI, Jan. 20 (SMM) -- A wait-and-see sentiment dominated the domestic lead market. It was originally hoped that market trading sentiment could be lifted by a strong SHFE zinc market, but downstream producers’ resistance to make purchases at high prices depressed transactions. The low-end price in the Shanghai market was around RMB 16,650/mt, continuing to keep pace with prices for well-known branded products. The stalemate between sellers and buyers remained.
In other news, market players showed quiet response to the announcement of the Ministry of Commerce, that is, auto buyers who enjoy the subsidy for replacing their old vehicles are also eligible for a reduced tax for the purchase of a small car, as the Central Government's incentives for the auto industry are in line with expectations.
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