**Shanghai Lead Market Fluctuates: Opens High, Closes Low; Downstream Enterprises Adopt Cautious Purchasing Strategy**

**【SMM Shanghai and Other 1# Lead Markets: Shanghai Lead Opens High but Closes Low; Downstream Enterprises Adopt a Wait-and-See Approach with Cautious Purchasing】**

SMM November 5 Report: In the Shanghai market, Chimhong lead is priced at RMB 16,725-16,745 per tonne, with a premium of RMB 0-20 per tonne to SHFE Lead contract 2411 or a discount of RMB 50 per tonne to SHFE Lead contract 2412. In Jiangsu and Zhejiang regions, Tongguan, Jiangxi Copper, Jinde, Shangjing, and Mulun lead are quoted at RMB 16,675-16,695 per tonne, with a discount of RMB 50-30 per tonne to SHFE Lead contract 2411. Shanghai lead lacks upward momentum, showing a trend of opening high but closing low.....