Domestic Spot Lead Prices Weakened Slightly

In the spot market, SMM #1 lead prices fluctuated between 15,125-15,275 yuan/mt last week. Quotations for small orders in the market were generally firm. Smelters in Henan narrowed their discounts against SMM #1 lead to 50-0 yuan/mt, and smelters in Hunan raised their quotations from a discount of 50 yuan/mt at the beginning of the week to zero or to a small premium against SMM #1 lead. The discount in Yunnan also narrowed to 280-250 yuan/mt.

Downstream buyers maintained on-demand purchases, and the market transaction was slightly light. In terms of the trade market, the premiums of warrants in Shanghai were 0-30 yuan/mt against SHFE 2304 lead contract, and discounts in Jiangsu and Zhejiang were 20-0 yuan/mt against SHFE 2305 lead contract. The transaction situation improved slightly compared with a week earlier.