【Spot Lead in Shanghai: Increase in Circulating Supply of Spot Lead, Market Quotations Showing Discount】

SMM News on July 23: In the Shanghai market, the price of Chihong lead is quoted at 19,780-19,790 yuan per ton, showing a premium of 100 yuan per ton over the SHFE lead 2408 contract. In Jiangsu and Zhejiang regions, Jiangxi Copper and Jinde lead are quoted at 19,730-19,790 yuan per ton, showing a premium of 50-100 yuan per ton over the SHFE lead 2408 contract. After testing a low, the SHFE lead has rebounded relatively, with holders following suit in their quotations. Some quotations still maintain a high premium, while smelters' quotations for their own production have shifted to discounts (the quotations in Henan are discounted over the SHFE lead 2408 contract...)