SHFE #1 Lead Price Movement on July 3

SHANGHAI, Jul. 3 (SMM) – SHFE lead prices started RMB 160/mt higher and fell after rising to the RMB 15,000/mt line on Tuesday. Quotations in China’s spot lead markets increased about RMB 75/mt. Well-known brands including Shuikoushan were quoted at RMB 14,950/mt, with spot premiums of RMB 20/mt over the most active SHFE lead price. Hanjiang was quoted at RMB 14,870/mt and Hengchang was quoted at RMB 14,800/mt. Offers from Nanfang were rarely reported. Smelters were still reluctant to sell goods, while traders were actively moving goods. Purchases by Downstream buyers improved as buyers bought on the way up.