SHFE #1 Lead Price Movement (2013-3-8)

SHANGHAI, Mar. 8 (SMM) – Spot lead prices in China edged up along with SHFE lead prices March 8. Quotations for Chihong Zn & Ge were firm due to tight supplies, and a few goods were traded at RMB 14,610/mt, with spot discounts over the most active SHFE lead contract price remaining at RMB 200/mt. Nanfang was quoted at RMB 14,570-14,580/mt, while Hanjiang was quoted at RMB 14,530/mt. Downstream buyers purchased at low prices, while smelters were reluctant to move goods due to low prices. Some traders replenished stocks modestly, believing lead prices were already low.