#1 Lead Price Movement in Shanghai Market (2014-3-28)

SHANGHAI, Mar. 28 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge and Chengyuan were offered on Friday between RMB 13,700-13,710/mt, at a broader discount of RMB 80/mt over SHFE 1405 lead contract prices. Humon and Shuangyan resources traded at RMB 13,680/mt and RMB 13,650/mt, respectively. With still ample supply in the market, traders stepped up purchases in a bullish attitude, but downstream producers were hindered from buying goods by tight liquidity at the end of March, causing a wider spot discount on Friday.