SHFE #1 Lead Price Movement on January 30

SHANGHAI, Jan. 30 (SMM) – On Monday, the first trading day following the Chinese New Year holiday, domestic lead prices edged up influenced by the rising LME lead prices during the holiday period. However, downstream enterprises remained cautious due to the climbing lead prices, leaving sparse transactions done in Shanghai. In domestic lead markets, well-known brands were quoted between RMB 16,100-16,120/mt, with discounts over the most active SHFE lead contract prices at RMB 130-150/mt. Strong wait-and-see sentiment prevailed in the market.