#1 Lead Price Movement in Shanghai Market (2013-3-28)-Shanghai Metals Market

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#1 Lead Price Movement in Shanghai Market (2013-3-28)

SMM Insight 01:38:32PM Mar 28, 2013 Source:SMM

SHANGHAI, Mar. 28 (SMM) – SHFE 1305 lead contract price opened slightly lower on Thursday with moving range little changed from the previous trading day. However, as this quarter came to an end and as today is the last trading day of LME lead before the Easter holiday, cargo holders cut prices to sell goods in order to avoid risk caused by high inventories. Branded lead, such as Chihong Zn & Ge and Nanfang, was quoted at RMB 14,350-14,360/mt in China's spot lead market, with spot discounts over the most active SHFE lead contract price at RMB 100/mt. Tongguang was offered at RMB 14,330/mt, and Mengzi was quoted at RMB 14,300/mt. Prices for Yuguang were around RMB 14,400/mt, with premiums of RMB 10/mt over the SHFE 1304 lead contract price. Falling prices largely hurt market confidence and undermined the buying interest.
 

#1 Lead Price Movement in Shanghai Market (2013-3-28)

SMM Insight 01:38:32PM Mar 28, 2013 Source:SMM

SHANGHAI, Mar. 28 (SMM) – SHFE 1305 lead contract price opened slightly lower on Thursday with moving range little changed from the previous trading day. However, as this quarter came to an end and as today is the last trading day of LME lead before the Easter holiday, cargo holders cut prices to sell goods in order to avoid risk caused by high inventories. Branded lead, such as Chihong Zn & Ge and Nanfang, was quoted at RMB 14,350-14,360/mt in China's spot lead market, with spot discounts over the most active SHFE lead contract price at RMB 100/mt. Tongguang was offered at RMB 14,330/mt, and Mengzi was quoted at RMB 14,300/mt. Prices for Yuguang were around RMB 14,400/mt, with premiums of RMB 10/mt over the SHFE 1304 lead contract price. Falling prices largely hurt market confidence and undermined the buying interest.