#1 Lead Price Movement in Shanghai Market (2014-4-16)

SHANGHAI, Apr. 16 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge and Nanfang traded Wednesday between RMB 13,750-13,760/mt at a RMB 40/mt premium to the SHFE 1405 contract. Shuangyan and Humon resources were sold between RMB 13,730-13,740/mt. Smelters expressed low selling interest, with Nanfang and Humon moving goods in thin volumes, while downstream producers reverted to a wait-and-see posture after SHFE lead prices registered a fall. Some purchased goods only on an as-needed basis, with trading volumes down from Tuesday’s level.