#1 Lead Price Movement in Shanghai Market (2014-3-11)

SHANGHAI, Mar. 11 (SMM) – Goods from Chihong Zn & Ge initially traded at RMB 13,750/mt in Shanghai on Tuesday, a discount of RMB 50 over the most active SHFE lead contract price, and later traded between RMB 13,760-13,770/mt after SHFE lead prices rose. Tongguan, Humon, and Shuangyan resources were sold between RMB 13,720-13,730/mt. Boosted by a sharp rise in SHFE lead prices, spot lead prices traded RMB 100/mt higher than Monday in the Shanghai market. Lead smelters stepped up moving goods, but lead warrant supply decreased after spot lead began trading at a discount. Downstream lead-acid battery producers had low buying interest in a wait-and-see attitude towards a rebound in spot lead prices, with trading volumes down compared with Monday’s level.