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SHFE #1 Lead Price Movement on July 10
Jul 10,2012 13:34CST
smm insight
Source:SMM
On Tuesday, the most active SHFE lead price opened slightly higher with negative news digested by the market, buoying spot lead prices.

SHANGHAI, Jul. 10 (SMM) – On Tuesday, the most active SHFE lead price opened slightly higher with negative news digested by the market, buoying spot lead prices. Quotations for Chengyuan and Nanfang were between RMB 15,020-15,030/mt, with spot premiums of RMB 100-110/mt over the most active SHFE lead price. Supply from Nanfang fell short in the market, boosting buying interest. Mengzi and Hanjiang were mainly quoted at RMB 14,950/mt. Quotations for Shenqian and brands from Gejiu region were around RMB 14,930/mt. Smelters were less reluctant to move goods and traders continued holding prices firm. Downstream buyers were not willing to buy noting prices were relatively high, leaving limited transactions made.

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spot lead

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