SHFE #1 Lead Price Movement on March 6

SHANGHAI, Mar. 6 (SMM) – On Tuesday, SHFE lead prices fell below RMB 16,000/mt to move around RMB 15,950/mt. In China’s domestic spot markets, quotation for well-known brands such as Chihong Zn & Ge, Chengyuan and Nanfang were between RMB 15,850-15,870/mt, with discounts against the most active SHFE lead contract price at RMB 100/mt. Other brands such as Shenqian from Fujian and lead from Gejiu region were quoted at RMB 15,800/mt, but with scarce deals done. Most smelters only waited on the sidelines as financial pressures were eased early in the month and market outlook remained unclear. Traders were actively buying goods, leaving supply relatively tight, but transactions did not improve significantly.