#1 Lead Price Movement in Shanghai Market (2014-4-10)

SHANGHAI, Apr. 10 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge, Nanfang, and Chengyuan traded Thursday between RMB 13,720-13,730/mt, a discount of RMB 10/mt over the most active SHFE 1405 lead contract price. Traded prices were RMB 13,700/mt for plastic-steel Shuangyan and Humon resources, and RMB 13,680/mt for Shuangyan supply wrapped with iron sheet. Chihong Zn & Ge and Chengyuan moved goods in light volumes due to maintenance, with insufficient supply from deliverable brands. Downstream lead-acid battery producers, however, merely purchased goods on an as-needed basis since the fall in SHFE lead prices strengthened their wait-and-see sentiment. Overall, trading activity only improved slightly on Thursday.