#1 Lead Price Movement in Shanghai Market (2014-4-28)

SHANGHAI, Apr. 28 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge traded between RMB 13,950-13,960/mt at premiums of RMB 30-40/mt over the SHFE 1405 lead contract. Humon and Hanjiang resources were sold at RMB 13,930/mt. Chihong Zn & Ge ramped up deliveries relatively following maintenance, while Chengyuan and Nanfang both moved goods in small amounts. Cargo holders essentially still had little selling interest on a bullish sentiment, but downstream producers were inactive building stocks with the approach of the May Day holiday. Towering finished goods inventories reportedly forced a larger number of lead-acid battery producers to close for the holiday, putting massive pressure on purchases.