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#1 Lead Price Movement in Shanghai Market (2013-6-20)
Jun 20,2013 13:35CST
price review forecast
Source:SMM
On Thursday, the worse-than-expected HSBC China PMI added to market concerns over the economic outlook, and spot lead prices continued to fall.
SHANGHAI, Jun. 20 (SMM) – On Thursday, the worse-than-expected HSBC China PMI added to market concerns over the economic outlook, and spot lead prices continued to fall. Prices for Chihong Zn & Ge were offered around RMB 13,870/mt, with discount of RMB 40/mt against the most active SHFE lead contract price, and Nanfang was quoted at RMB 13,840-13,850/mt. Mengzi was offered at RMB 13,830/mt. Downstream buyers were bearish to lead price and not willing to purchase, and traders also bought goods cautiously. Large smelters still mainly fulfill long-term contracts, while SMEs increased supplies due to tight cash flows, with supply for branded lead limited. 
 
spot lead price

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