#1 Lead Price Movement in Shanghai Market (2013-10-23)

SHANGHAI, Oct. 23 (SMM) – Spot lead prices in Shanghai fell back following a rally on Wednesday. Goods of Jinsha were offered at RMB 14,350/mt, with a discount of RMB 160-170/mt against the most active SHFE lead prices, but with thin transactions. Supply for goods from Chengyuan was few, with quotations between RMB 14,300-14,330/mt, while Mengzi and Hanjiang both were traded at RMB 14,300/mt. Quotes for Humon were initially at RMB 14,250/mt, but later lowered to RMB 14,220/mt. The fall of SHFE lead prices restrained downstream purchases, further dampening transactions. Price gap between markets in Jiangxi, Hunan, Henan and the Shanghai market continued to widen.