#1 Lead Price Movement in Shanghai Market (2013-4-10)

SHANGHAI, Apr. 10 (SMM) – SHFE lead prices hovered near the 10-day moving average on April 10, and spot lead prices remained little changed from the previous trading day. Chihong Zn & Ge and Nanfang were quoted at RMB 14,270-14,280/mt, with spot discounts over the most active SHFE lead price of RMB 200/mt. Quotations for Shuangyan and YT were RMB 14,220/mt and RMB 14,230/mt, respectively. Market players were cautious, awaiting Fed’s interest rate decision. Downstream buyers purchased modestly at low prices, and smelters were still reluctant to move goods, with transactions mainly done between traders.