#1 Lead Price Movement in Shanghai Market (2013-7-4)

SHANGHAI, Jul. 4 (SMM) – On July 4, SHFE lead prices gained support at RMB 13,900/mt, and spot lead prices in China changed little from the previous day given depressed consumption but limited supplies. Fewer transactions were made for warehouse warrants, with warrants from Yuguang offered at RMB 13,790/mt, with spot premiums of RMB 20/mt over the SHFE 1307 lead contract price. Nanfang was quoted at RMB 13,750/mt. Mengzi and Hanjiang were quoted at RMB 13,760/mt. Market players mainly waited on the sidelines given directionless LME lead, leaving transactions muted.