#1 Lead Price Movement in Shanghai Market (2014-3-13)

SHANGHAI, Mar. 13 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge were offered on Thursday at RMB 13,720/mt, a premium of around RMB 100/mt over the most active SHFE lead contract. Traded prices were RMB 13,700-13,710/mt for Tongguan and Chengyuan resources, RMB13670-13680/mt for Yubei and Humon goods, and RMB 13,600/mt for Shuangyan supply. Mostly traded lead supply was from Humon and Yubei in the market. Lead smelters remained disinclined to move goods, while traders were also reluctant to trade in a bearish view towards lead prices, causing relatively tight supply of lead ingot. Downstream producers stayed out of the market, with trading activity rather light on Thursday.