#1 Lead Price Movement in Shanghai Market (2013-6-13)

SHANGHAI, Jun. 13 (SMM) – SHFE lead prices opened lower on Thursday, dragged down by LME lead during the three-day Chinese Dragon Boat Festival. Cargo holders, however, refrained from selling. Downstream producers largely held to the sidelines. Chihong Zn & Ge was offered at RMB 13,900/mt, a premium of RMB 90/mt over SHFE 1306 lead contract prices. Yubei was quoted at RMB 13,890-13,900/mt, a discount of RMB 40/mt over SHFE 1307 lead contract prices. Quotations for Hanjiang were RMB 13,880/mt. Trading was subdued, though inquiries were heard.