SHFE #1 Lead Price Movement (2012-10-24)

SHANGHAI, Oct. 24 (SMM) – SHFE lead prices were still under downward pressures October 24. In China’s spot lead market, most investors were reluctant to buy goods with bearish outlook, while cargo holders lowered prices to promote sales due to month end financial pressures. Well-known brands, including Chihong Zn & Ge, Yuguang, and Chengyuan, were quoted at RMB 15,200-15,300/mt, with spot discounts over the SHFE 1212 lead contract price at RMB 150/mt. Dongling and Hanjiang were offered at RMB 15,120-15,150/mt. Quotations for Shenqian and Baiyin fell to a low of RMB 15,100/mt. Trading was lighter.