SHANGHAI, Jan. 18 (SMM) – SHFE lead prices fluctuated at a high level after gapping higher on Wednesday. In domestic spot lead markets, quotations for branded lead such as Nanfang were around RMB 15,650/mt, with discounts over the most active SHFE lead contract prices of RMB 100/mt. Other brands such as Hexing were quoted at around RMB 15,480/mt. Most traders were busy in settlements while downstream enterprises began the holiday, leaving transactions muted.