SHFE #1 Lead Price Movement on March 21

SHANGHAI, Mar. 22 (SMM) – On Thursday, SHFE lead prices stabilized earlier. In domestic spot markets, quotations for brands such as Dongling and Shuikoushan were between RMB 15,700-15,750/mt, and Shenqian was quoted around RMB 15,680/mt. Later, since the HSBC Manufacture PMI for March fell to 48.1, a four-month low, SHFE lead prices plunged, but spot prices were relatively resilient to declines with prices down RMB 20/mt to around RMB 15,730/mt. Traders purchased moderately with bullish outlook, while downstream still purchased on an as-needed basis, leaving transactions modest.