#1 Lead Price Movement in Shanghai Market (2013-6-17)

SHANGHAI, Jun. 17 (SMM) – On June 17, spot lead prices increased RMB 30-50/mt compared with last Friday as SHFE lead prices gapped higher. Chihong Zn & Ge was quoted at RMB 13,950/mt, RMB 50/mt higher than the most active SHFE 1306 lead contract price. Hanjiang and Mengzi were offered at RMB 13,900-13,910/mt. With the year moving ahead halfway, most lead-related enterprises reflected tight finance. Selling interest among lead smelters became higher, but downstream buyers were not willing to purchase at prevailing highs and most were awaiting Fed’s interest rate decision to be released this week. Thus, trading in China’s spot lead market was light in the morning.