SHFE #1 Lead Price Movement on March 7

SHANGHAI, Mar. 7 (SMM) – On Wednesday, SHFE lead prices opened lower and moved around RMB 15,680/mt. In China’s domestic spot markets, quotation for well-known brands such as Chihong Zn & Ge, Chengyuan were around RMB 15,680/mt, close to most active SHFE lead contract price. Yubei lead was quoted at RMB 15,680/mt, and quotations for Shenqian from Fujian at RMB 15,600/mt, but limited deals were done. Lead prices showed sharp declines today, smelters believed downward scope should be limited, and were reluctant to move goods. Downstream consumption improved.