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SHFE #1 Lead Price Movement on February 29
Feb 29,2012 13:25CST
smm insight
Source:SMM
On Wednesday, SHFE lead prices opened at RMB 16,250/mt and rose to RMB 16,320/mt before noon.

SHANGHAI, Feb. 29 (SMM) – On Wednesday, SHFE lead prices opened at RMB 16,250/mt and rose to RMB 16,320/mt before noon. In China’s domestic spot markets, quotation for Chihong Zn & Ge were at RMB 16,100/mt earlier with inquiries rarely seen due to the high prices, but dropped to RMB 16,050/mt later, with discounts against the most active SHFE lead contract price between RMB 200-250/mt. However, traded prices were actually between RMB 16,000-16,040/mt. Other brands such as Hanjiang and Yubei were quoted at RMB 16,020-16,050/mt and only limited deals were made. Quotations for lead from Gejiu region were at RMB 15,950-16,000/mt. Since lead prices kept rising, smelters were more actively selling goods, while inquiries from downstream buyers increased but few purchases were made at high prices, leaving transactions modest.

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