#1 Lead Price Movement in Shanghai Market (2013-4-1)

SHANGHAI, Apr. 2 (SMM) – SHFE lead prices gapped lower on Monday, and spot lead prices fell. Most smelters reflected spot prices were lower than their cost lines and were not willing to sell goods. Some traders cut prices to sell goods given bearish outlook. Chihong Zn & Ge was quoted at RMB 14,240-14,250/mt, with spot discounts of RMB 50/mt against the most active SHFE lead contract price. Nanfang was traded at RMB 14,220/mt, and price for Yubei was flat with SHFE 1304 lead contract price. Quotations for other brands were rarely heard. Downstream buyers were not will to purchase due to limited orders.