#1 Lead Price Movement in Shanghai Market (2014-4-29)

SHANGHAI, Apr. 29 (SMM) – In the Shanghai physical lead market, goods from Chihong Zn & Ge traded initially between RMB 13,940-13,950/mt at a higher premium of RMB 70/mt over the SHFE 1405 lead contract. Quotations for the brand later, however, fell to RMB 13,930/mt due to relatively ample supply and downstream producers regarding physical premiums as too high after SHFE lead prices dropped. Traded prices were RMB 13,920-13,930/mt for Shuangyan and Hanjiang resources and RMB 13,900/mt for Humon brand. Chengyuan entered maintenance cycles, while Nanfang held back goods, with supply from these two brands rarely found in the market. Trading activity was comparatively sluggish Tuesday since downstream producers still had low willingness to build stocks.