SHFE #1 Lead Price Movement on February 16

SHANGHAI, Feb 16 (SMM) – On Thursday, SHFE 1204 lead price opened lower and then moved between RMB 15,600-15,700/mt. In China’s domestic spot markets, quotations for well-known brands Chihong Zn & Ge were around RMB 15,600/mt, while Chengyuan and Nanfang were quoted between RMB 15,560-15,580/mt, with discounts against the most active SHFE lead contract price narrowing to RMB 50-80/mt. Quotations for other brands were mainly at RMB 15,560/mt. Lead prices decreased and most downstream buyers held a wait-and-see attitude, leaving transactions modest.