SHFE #1 Lead Price Movement (2012-10-18)

SHANGHAI, Oct. 18 (SMM) – SHFE lead prices were boosted by positive economic data in the US overnight and moved around RMB 15,760/mt on October 18. In China’s spot lead market, prices were deprived of momentum to rise due to sluggish demand. Well-known brands including Nanfang and Chihong Zn & Ge were quoted at RMB 15,550/mt, with spot discounts overt the SHFE 1212 lead contract price at RMB 200/mt. Mengzi and Dongling were offered at RMB 15,450-15,470/mt. Quotations for Hanjiang and Shenqian were at RMB 15,430/mt and RMB 15,400/mt. Downstream buyers were still on the sidelines, believing increase in lead prices were limited, while cargo holders moved goods actively. Transactions remained modest.