Metals News
#1 Lead Price Movement in Shanghai Market (2013-4-23)
smm insight
03:41PM
Apr 23,2013
Source:SMM

SHANGHAI, Apr. 23 (SMM) – SHFE lead prices were again dragged down by the worse-than-expected China HSBC PMI on Tuesday, and spot lead price also fell below RMB 13,700/mt. Cargo holders were more reluctant to move goods, with quotations rarely reported. Chihong Zn & Ge and Nanfang were quoted at RMB 13,640-13,650/mt, with spot discounts of RMB 30-40/mt against the most active SHFE lead contract price. Warrants for Yubei were offered at RMB 13,620/mt, with premiums of RMB 20/mt over the HSFE 1305 lead contract price. Inquiries downstream were also limited, with only a few transactions done between traders.

 

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