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SHMET Spot Market Briefing 20100603-Lead


China's spot Lead is quoted from RMB 14450 to 14650 per tonne, decreasing RMB 50 per tonne. Reforming housing property tax in China is bad for metal market at home and abroad again, but the rebound of crude oil and US. Stock market relieved its downtrend yesterday. The sales is thin on the spot market, as traders quoted price at a lower price again, but there are not many downstream consumers come to purchase goods.

“ We have sold more than 100 tonnes of Jinsha Lead at RMB 14500 per tonne today. Though we have moved down price to sell goods, the trading volume does’t go higher and factories are more hesitated to purchase goods.” Some lead trader said to SHMET.

“ Lead price is in the lowest level in 2010. In order to save expenses, some factories went to purchase cheaper lower-grade brand lead. The market trend is poor now. Downstream consumers are all very cautious and usually purchase goods on demand.” Another lead trader said to SHMET.

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