SMM Lead Market Daily Review (2013-7-3)

 

Spot lead prices in China were little changed, with Nanfang and Shuikoushan quoted at RMB 13,780/mt and Hanjiang offered at RMB 13,750/mt. Warrants for Chihong Zn & Ge and Wanyang were offered at RMB 13,800/mt initially, with premiums of RMB 20/mt over the SHFE 1307 lead contract price, but prices fell to RMB 13,760/mt later with SHFE lead slipping RMB 40/mt. Downstream consumption was modest, and smelters moved goods normally, but traders unwilling to enter the market. Lead prices in Nanchu were generally RMB 20-30/mt lower than Shanghai, but trading was still light.