SHFE #1 Lead Price Movement on February 24

SMM Insight 01:26:41PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – On Friday, SHFE lead prices rose to RMB 16,000/mt after opening at RMB 15,950/mt. In China’s domestic spot markets, initial quotation for well-known brands such as Chihong Zn & Ge were at RMB 15,900/mt, while Nanfang and Shuikoushan were quoted at RMB 15,880-15,900/mt, with discounts against the most active SHFE lead contract price at RMB 90-100/mt. At about 10 a.m., quotations for several brands decreased to RMB   15,850/mt. Quotations for Shenqian lead from Fujian were between RMB 15,760-15,780/mt. With lead prices starting to stabilize, smelters were cautiously moving goods over bullish outlook, while downstream buyers were more actively making inquiries but only purchased on as needed basis.

Key Words:  SHFE lead   lead price   spot lead 

SHFE #1 Lead Price Movement on February 24

SMM Insight 01:26:41PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – On Friday, SHFE lead prices rose to RMB 16,000/mt after opening at RMB 15,950/mt. In China’s domestic spot markets, initial quotation for well-known brands such as Chihong Zn & Ge were at RMB 15,900/mt, while Nanfang and Shuikoushan were quoted at RMB 15,880-15,900/mt, with discounts against the most active SHFE lead contract price at RMB 90-100/mt. At about 10 a.m., quotations for several brands decreased to RMB   15,850/mt. Quotations for Shenqian lead from Fujian were between RMB 15,760-15,780/mt. With lead prices starting to stabilize, smelters were cautiously moving goods over bullish outlook, while downstream buyers were more actively making inquiries but only purchased on as needed basis.

Key Words:  SHFE lead   lead price   spot lead