Shanghai Lead Market Diverges as Prices Plunge, Sellers Offer Wider Discounts Amid Weak Futures

【Shanghai Lead Spot: Sellers Diverge Further in Shipments after Lead Prices Plunge】

SMM News, September 9: In the Shanghai market, Jijin Lead quoted a range of RMB 16,465-16,585 per tonne, with a discount of RMB 30-20 per tonne to the SHFE Lead 2409 contract. In Jiangsu and Zhejiang regions, Jiangtong Lead was quoted at RMB 16,465-16,605 per tonne, with a discount of RMB 30-0 per tonne to the same contract. As SHFE Lead continued to show weakness, holders generally quoted at discounts, while the spread between spot and futures prices widened, and the shipment of warehouse receipts improved relatively. During this period, the discount for refinery-direct sources narrowed compared to last Friday...