SHANGHAI, Apr. 23 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge traded Wednesday between RMB 13,960-13,980/mt, a discount of some RMB 40/mt over the most active SHFE 1405 lead contract. Traded prices were RMB 13,950/mt for Nanfang and Tongguan brands, and RMB 13,920-13,930/mt for Shuangyan, Humon, and Hanjiang resources. As a sharp rally in SHFE lead prices and relatively tight supply pushed up physical lead prices, smelters turned less willing to move goods, while traders held prices firm on low inventories and with a bullish sentiment. Meanwhile, high prices in the Shanghai market shied downstream producers away from purchasing goods, putting a lid on trading activity on Wednesday.