#1 Lead Price Movement in Shanghai Market (2013-7-10)

SHANGHAI, Jul. 10 (SMM) – On July 10, quotes in China’s spot lead market remained firm. Chihong Zn & Ge was mainly quoted at RMB 13,750/mt, with discounts against the most active SHFE lead contract price narrowing to RMB 80/mt. Nanfang was offered RMB 30/mt lower at RMB 13,720/mt. Prices for Tongguan remained stable at RMB 13,720/mt, while warrants for Shuikoushan were offered at RMB 13,700/mt, RMB 40/mt higher that SHFE 1307 lead contract price. Hanjiang and Hengbang were quoted at RMB 13,660/mt. Downstream consumption remained depressed. Smelters cut output due to tight raw material supply, leaving spot goods tradable in the market reduced.