SHANGHAI, Mar. 5 (SMM) – In the Shanghai physical lead market, warrants of Chihong Zn & Ge and Yubei traded Wednesday at RMB 13,800/mt, a discount of RMB 90/mt over the most active SHFE lead contract. Humon resources were sold at RMB 13,780/mt. Less supply from lead smelters and widening gap between spot lead and SHFE lead prices restrained outflows of warrant supply, with a significant drop in quotations. Downstream producers remained bearish on lead prices, and mostly stayed on the sidelines after lead prices climbed, leaving transactions light on Wednesday.