SHFE #1 Lead Price Movement on February 28

SHANGHAI, Feb. 28 (SMM) – On Tuesday, SHFE lead prices opened at RMB 16,200/mt and moved above the moving averages. In China’s domestic spot markets, quotation for well-known brands such as Chihong Zn & Ge, Chengyuan and Nanfang were between RMB 16,000-16,050/mt in the morning, with discounts against the most active SHFE lead contract price expanding to RMB 200-250/mt, but traded prices were mainly at RMB 15,970-16,020/mt. Buyers were more willing to trade with several traders offering lower quotations, but purchases were still limited on the whole.