#1 Lead Price Movement in Shanghai Market (2013-7-23)

SHANGHAI, Jul. 23 (SMM) – On Tuesday, quotes in China’s spot lead markets rose RMB 20-30/mt with SMM average lead price up RMB 25/mt. Supplies from Chihong Zn & Ge remained low and quotes were firm at RMB 13,800/mt, with discount against the most active SHFE lead contract price narrowing to RMB 90/mt. Tongguan was traded at RMB 13,760/mt. Mengzi and Hanjiang were quoted at RMB 13,750/mt. Downstream buyers were still watching on the sidelines given higher lead prices, and smelters sold goods at proper prices, with trading showing no significant improvement.