Shanghai Lead Rebounds from Lows Amid Tight Spot Market Supply, SMM Reports

[SMM Shanghai and Other Grade 1# Lead Markets: Shanghai Lead Rebounds after Testing Lows, Tight Supply in Spot Market Keeps Prices High]

SMM reported on October 18th: In the Shanghai market, the price of Honglu lead ranged from 16,520 to 16,620 yuan/ton, with a discount of 50-30 yuan/ton to the Shanghai Lead contract 2411; in Jiangsu and Zhejiang regions, Jiangtong and Tongguan lead quoted at 16,540-16,650 yuan/ton, with a discount of 30-0 yuan/ton to the Shanghai Lead contract 2411. Shanghai Lead rebounded after testing lows, with holders selling along with the market trend. During this period, the supply of refinery deliveries decreased, leading to relatively firm quotes...