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Home / Metal News / SHFE #1 Lead Price Movement on July 23

SHFE #1 Lead Price Movement on July 23

Jul 23, 2012 13:18

Source:SMM

SHFE lead prices gapped lower and followed a weak trend July 23 influenced by the falling LME lead prices last Friday.

SHANGHAI, Jul. 23 (SMM) – SHFE lead prices gapped lower and followed a weak trend July 23 influenced by the falling LME lead prices last Friday. In China’s spot lead market, offers for some brands fell below RMB 15,000/mt again. Shenqian and Mengzi were mainly quoted between RMB 14,960-14,980/mt, and Shuikoushan was quoted at RMB 15,000/mt. Quotations for Nanfang were RMB 15,050/mt, with spot premiums of RMB 160/mt over the most active SHFE lead price. Selling interest at smelters was low as lead prices dropped, while downstream buyers remained cautious due to bearish outlook.

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