SHFE #1 Lead Price Movement on July 9-Shanghai Metals Market

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SHFE #1 Lead Price Movement on July 9

SMM Insight 01:22:14PM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) – LME lead prices fell as much as 1.69% last Friday influenced by the non-farm payrolls, but the most active SHFE lead price only dropped slightly on Monday, and spot lead prices in China’s domestic markets remained firm. Shuikoushan was mainly quoted at RMB 14,970/mt, with spot premiums of RMB 120/mt over the most active SHFE lead price. Hanjiang and brands from Gejiu region in Yunnan province were quoted between RMB 14,900-14,920/mt. Quotations for Shenqian were around RMB 14,860/mt. Smelters were still reluctant to move goods at low prices and traders held prices sticky. Downstream buyers were not willing to buy, saying lead prices were relatively high, leaving transactions quiet.
 

Key Words:  lead price   spot lead 

SHFE #1 Lead Price Movement on July 9

SMM Insight 01:22:14PM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) – LME lead prices fell as much as 1.69% last Friday influenced by the non-farm payrolls, but the most active SHFE lead price only dropped slightly on Monday, and spot lead prices in China’s domestic markets remained firm. Shuikoushan was mainly quoted at RMB 14,970/mt, with spot premiums of RMB 120/mt over the most active SHFE lead price. Hanjiang and brands from Gejiu region in Yunnan province were quoted between RMB 14,900-14,920/mt. Quotations for Shenqian were around RMB 14,860/mt. Smelters were still reluctant to move goods at low prices and traders held prices sticky. Downstream buyers were not willing to buy, saying lead prices were relatively high, leaving transactions quiet.
 

Key Words:  lead price   spot lead