#1 Lead Price Movement in Shanghai Market (2013-11-26)

SHANGHAI, Nov. 26 (SMM) – In China’s spot lead market, goods of Chihong Zn & Ge traded at RMB 13,900/mt, a discount of RMB 50/mt over the most active SHFE lead price on Tuesday. Nanfang and Chengyuan resources were still offered on a par with SHFE 1312 lead price, and mostly traded in a RMB 13,870-13,880/mt band. Shuangyan and Humon were sold at RMB 13,850/mt. Affected by lead smelters which were reluctant to trade, most cargo holders moved goods at firm prices, while downstream producers still had little buying interest due to tight liquidity and fears that lead price might fall further, leaving transactions light on Tuesday.