SMM Shanghai and other 1# lead markets: The center of lead price movement shifts downward, with some suppliers expanding discounts for shipments [SMM Midday Review]

        SMM News on May 28: In the Shanghai market, Chihong and Honglu lead were quoted at 16,700-16,760 yuan/mt, with quotations against the SHFE lead 2506 contract at discounts of 20-0 yuan/mt. In the Jiangsu and Zhejiang regions, JCC lead was quoted at 16,700-16,760 yuan/mt, with quotations against the 2506/2507 contracts at discounts of 30-0 yuan/mt. SHFE lead continued to be in the doldrums, and suppliers shipped goods according to market conditions. Among them, the discounts for cargoes self-picked up from primary lead smelters in major production areas widened, with quotations ranging from discounts of 60 yuan/mt to premiums of 100 yuan/mt against the SMM 1# lead average price on an ex-factory basis. Due to the decline in lead prices, quotations from secondary lead smelters decreased compared to yesterday. Some spot orders were quoted at discounts of 75-0 yuan/mt against the SMM 1# lead price on an ex-factory basis, with some at premiums of 25-75 yuan/mt. Downstream enterprises adopted a wait-and-see attitude and made cautious purchases, with a few purchasing at lower prices. Overall market transactions remained sluggish.

        Other markets: Today, the SMM 1# lead price fell by 50 yuan/mt compared to the previous trading day. In Henan, suppliers offered quotations at discounts of 25-0 yuan/mt against the SMM 1# lead price, or at discounts of 200-150 yuan/mt against the SHFE lead 2507 contract on an ex-factory basis, with a small amount of just-in-time demand transactions. In Hunan, smelters offered quotations at discounts of 40-30 yuan/mt against the SMM 1# lead average price on an ex-factory basis, while individual suppliers offered quotations at discounts of 60-50 yuan/mt against the SMM 1# lead average price for dumping. In the Guangdong market, suppliers offered quotations at premiums of 0-50 yuan/mt against the SMM 1# lead price. After the decline in lead prices, downstream enterprises showed a wait-and-see attitude. As the month-end approached and new long-term contracts began, transactions in the spot order market slowed down.