#1 Lead Price Movement in Shanghai Market (2013-4-16)

SHANGHAI, Apr. 16 (SMM) – SHFE lead prices opened lower at stabilized around RMB 14,000/mt on Tuesday. In China’s domestic spot markets, Chihong Zn & Ge was quoted at RMB 13,980/mt, with spot discounts over the most active SHFE lead contract narrowing to RMB 70/mt. Yuguang was offered at RMB 13,960/mt, with premiums of RMB 10/mt over the SHFE 1305 lead contract price, while Yubei was quoted at RMB 13,940/mt. Prices for Shenqian were offered around RMB 13,940/mt. The low prices boosted buying interest downstream, while cargo holders only sold goods modestly, leaving transactions improved from the previous day.