#1 Lead Price Movement in Shanghai Market (2014-4-9)

SHANGHAI, Apr. 9 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge traded mostly Wednesday at RMB 13,730/mt, a discount of around RMB 10-20/mt over SHFE 1405 lead contract prices. A certain amount of resources from Chihong Zn & Ge were sold as high as RMB 13,750/mt due to tight supply, while Humon traded between RMB 13,700-13,720/mt. Smelters moved goods only in light volumes, causing shortage of physical lead in the Shanghai market. Downstream producers reverted to a wait-and-see posture Wednesday when lead prices rose, with modest transactions.