#1 Lead Price Movement in Shanghai Market (2013-7-5)

SHANGHAI, Jul. 5 (SMM) – On July 5, SHFE lead prices fell below RMB 13,900/mt along with slipping copper prices, and spot lead prices edged RMB 20-30/mt lower. Mengzi was offered at RMB 13,730/mt, and Hanjiang was quoted at RMB 13,725/mt. Warrants for Yubei were offered at RMB 13,720/mt, with premiums of RMB 20/mt over SHFE 1307 lead contract price. Lower lead prices caused some smelters to cut supplies, while downstream buyers still purchased to orders. Transactions between traders were also quiet.