SHFE #1 Lead Price Movement on February 14

SHANGHAI, Feb 14 (SMM) – On Tuesday, the most active SHFE lead contract price followed a weak track after opening at RMB 15,955/mt due to rating agency’s downgrade of several European countries and Spanish banks. In China’s domestic spot markets, quotations for Chihong Zn & Ge were between RMB 15,840-15,900/mt, while lead of Chengyuan was quoted around RMB 15,800/mt, with discounts against the most active SHFE lead contract price at RMB 120-180/mt. Others brands were quoted at RMB 15,740/mt, and quotations for lead from Gejiu were at RMB 15700/mt. Buying interest among downstream enterprises did not improve due to slow recoveries, and transactions basically remained the same with the previous trading day.