#1 Lead Price Movement in Shanghai Market (2013-10-8)

SHANGHAI, Oct. 8 (SMM) – SHFE 1312 lead contract price gapped RMB 100/mt lower on October 8, surprising market and fueling caution in lead markets. In Shanghai spot market, warehouse warrants for Chihong Zn & Ge were reportedly offered at RMB 14,050/mt, a premium of RMB 10/mt over the most active SHFE lead contract price, but few transactions were made. Yubei’s warrants were quoted at RMB 14,080/mt, a premium of RMB 40/mt over the SHFE 1312 lead contract price, with trading muted at high price. Shuikoushan’s warrants were quoted at RMB 14,040/mt, flat at the most traded SHFE lead contract price, while Chengyuan was offered at a premium of RMB 110/mt over the SHFE 1310 lead contract price at RMB 14,040/mt. The limited price gap between different brands dampened buying interest downstream, leaving transactions quieter than expected.