#1 Lead Price Movement in Shanghai Market (2013-11-21)

SHANGHAI, Nov. 21 (SMM) – In Shanghai spot lead market, investor sentiment tended to be bearish on Thursday, pressuring traded price for spot lead. Goods of Chihong Zn & Ge were offered at RMB 13,930/mt, a discount of RMB 40/mt over the most active SHFE lead price. Yuguang resources were quoted at premiums of RMB 50 over SHFE 1312 lead price, while Nanfang and Chengyuan traded between RMB 13,870-13,890/mt, flat with SHFE 1312 lead price. Humon, Hanjiang and Shuangyan were sold in a RMB 13,870-13,880/mt band. On Thursday, smelters were reluctant to move goods, while downstream producers had low buying interest, for fear of lead price declining further and relatively tight liquidity.