#1 Lead Price Movement in Shanghai Market (2013-11-11)

SHANGHAI, Nov. 11 (SMM) – In China’s spot lead market, goods of Chihong Zn & Ge traded at RMB 14,170/mt on Monday, a discount of RMB 60/mt over the most active SHFE lead contract prices. Nanfang resources were initially offered at RMB 14,160/mt, but traded mostly at RMB 14,140/mt due to ample supplies in the market. Branded lead warrants were quoted at a discount of RMB 80/mt over the SHFE 1312 lead contract prices, while Humon was sold at RMB 14,110/mt. The market turned to be cautious towards spot lead prices following a bullish view last week. As a result, lead smelters traded as usual, but downstream producers had lackluster buying interest on Monday.