#1 Lead Price Movement in Shanghai Market (2013-7-12)

SHANGHAI, Jul. 12 (SMM) – In China’s spot lead markets, supplies from lead smelters dropped noticeably on July 12, with spot prices down RMB 20/mt. Chihong Zn & Ge was quoted at RMB 13,760/mt, with discounts of RMB 120/mt against the most active SHFE 1309 lead contract price. Nanfang was offered at RMB 13,720/mt, while warrants for Shuikoushan were offered at RMB 13,760/mt, with premiums of RMB 40/mt over the SHFE 1307 lead contract price. Quotes for Shenqian were rarely heard lately due to maintenance at the producer, but quotes were reported at around RMB 13,700/mt on Friday. Downstream consumers still purchased as needed.