SHFE #1 Lead Price Movement on February 15

SHANGHAI, Feb 15 (SMM) – On Wednesday, SHFE lead price moved weakly after opening slightly higher and rebounded with the rising Chinese domestic stocks after 10:30 in the morning. In Shanghai spot markets, well-known brands such as Chihong Zn & Ge, Chengyuan and Nanfang were initially quoted between RMB 15,750-15,800/mt, and then quotations rose to RMB 15,850/mt along with the SHFE lead prices, with discounts against the most active SHFE lead contract price at RMB 50-100/mt. Quotations for lead from Gejiu were at RMB 15,650/mt at first, but increased to around RMB 15,700/mt. Despite the increasing lead prices, downstream buyers were still cautious, leaving transactions unimproved.