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.
SHFE #1 Lead Price Movement on February 24
