#1 Lead Price Movement in Shanghai Market (2013-7-29)

SHANGHAI, Jul. 29 (SMM) – In China’s spot lead markets, prices fell RMB 30-40/mt on Monday. Quotes for Chihong Zn & Ge were mainly at RMB 13,760/mt, with discounts against the most active SHFE lead contract price narrowing from RMB 70/mt to RMB 0/mt. Resources of Hanjiang and Shenqian were offered at RMB 13,730/mt and RMB 13,720/mt, respectively. Quotation for Humon was RMB 13,690/mt, while that for Wanyang was RMB 13,700/mt. Jinli’s quote was slightly lower at RMB 13,650/mt. The continued tight supply and improving consumption of lead-acid batteries left spot lead prices relatively resilient. But downstream buyers made a wait-and-see stand and only purchased as needed.