#1 Lead Price Movement in Shanghai Market (2013-7-15)

SHANGHAI, Jul. 15 (SMM) – On July 15, China’s Q2 GDP growth has reported slowed to 7.5%, slightly below previous level but within market expectation, and spot lead prices in Shanghai remained little changed from last Friday. Goods of Chihong Zn & Ge was quoted at RMB 13,780/mt with transactions scarce. Lead from Nanfang was offered at RMB 13,730/mt, while that of Hanjiang was quoted at RMB 13,720/mt, with discounts against the most active SHFE lead contract price at RMB 150/mt. The limited output at smelters curtailed supplies to spot lead market, and upbeat market outlook with the arrival of high-demand season also left smelters unwilling to move goods.