SHFE #1 Lead Price Movement on December 12

SHANGHAI, Dec. 12 (SMM) – Affected d by the EU summit last weekend, SHFE lead prices opened higher but fell later the day to the moving average on Monday. Quotations for domestic well-known brands such as Nanfang, Chihong Zn & Ge and Chengyuan were around RMB 15,650/mt, with discounts against the most active SHFE lead prices of negative RMB 0-20/mt. Other brands such as Yunyue were traded at RMB 15,600/mt. Downstream buyers remained cautious and only purchased on an as-needed basis, while smelters were still unwilling to sell goods. Transactions were quiet on the whole.