#1 Lead Price Movement in Shanghai Market (2014-4-17)

SHANGHAI, Apr. 17 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge, Nanfang, and Chengyuan traded Thursday between RMB 13,780-13,800/mt at a RMB 30/mt premium to the SHFE 1405 contract. Traded prices were RMB 13,750-13,760/mt for Shuangyan wrapped with plastic steel and Humon, and RMB 13,720/mt for Shuangyan wrapped with iron sheet. Continuing rises in physical prices turned cargo holders reluctant to trade, causing relatively tight supply overall, while poor sales as well as high pile-up in inventories left downstream producers on the sidelines. As a result, trading activity was rather light on Thursday.