#1 Lead Price Movement in Shanghai Market (2014-3-12)

SHANGHAI, Mar. 12 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge traded on Wedneday at RMB 13,700/mt, a premium of RMB 35/mt over the most active SHFE lead contract. Nanfang resources were initially offered at RMB 13,700/mt, but later followed SHFE lead prices down to RMB 13,675/mt. Humon and Shuangyan were sold at RMB 13,680/mt and RMB 13,600/mt, respectively. Lead smelters moved goods in small amount, causing relatively tight supply in the market, while downstream producers turned more bearish after lead prices fell back on Wednesday, with trading activity fairly light.