Chinese lead prices climb in April; poor demand may cap gains
May 03, 2012 | 11:00 PM
Chinese lead prices climbed in April but sluggish local demand is expected to cap gains in the coming month, according to market sources.
The benchmark July lead contract on the Shanghai Futures Exchange gained 2.2% over the month to 15,835 yuan per tonne, compared with 15,495 yuan per tonne on March 30.
On the Changjiang Nonferrous market, spot lead was trading at 15,650-15,800 yuan per tonne on April 27, up 150 yuan from 15,500-15,650 yuan per tonne on March 30.
But the increase in prices does not reflect an improvement in demand, sources said. ....
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