SHFE #1 Lead Price Movement on July 2

SHANGHAI, Jul. 2 (SMM) – SHFE lead prices started RMB 115/mt higher and fell after rising to RMB 14,890/mt on Monday. Quotations in China’s spot lead markets moved up. Well-known brands including Wanyang and Nanfang were quoted between RMB 14,780-14,800/mt, with spot premiums over the most active SHFE lead price narrowing from RMB 120/mt recorded last week to RMB 0/mt. Hanjiang was quoted at RMB 14,720/mt and Mengzi was quoted at RMB 14,750/mt. Smelters remained unwilling to move goods, and traders were willing to purchase due to a lack of supply, but buyers only purchased cautiously.