SHFE #1 Lead Price Movement on February 23

SHANGHAI, Feb. 23 (SMM) – On Thursday, SHFE lead price fluctuated around RMB 15,900/mt. In China’s domestic spot markets, initial quotation for well-known brands such as Chihong Zn & Ge, Yuguang, Nanfang and Shuikoushan were RMB 15,850/mt, with discounts against the most active SHFE lead contract price at RMB 50/mt. Quotations for lead from Gejiu were around RMB 15,750/mt. Downstream buyers were not willing to purchase due to higher prices. At midday, SHFE lead prices moved down slightly, Chihong Zn & Ge, Yuguang were quoted lower at RMB 15,820/mt, but prices were still relatively high, so most downstream buyers stayed out of the market, leaving limited transactions made.