SMM, January 23: Quotations in the Shanghai market were scarce; in Jiangsu and Zhejiang regions, JCC lead was quoted at 16,640-16,710 yuan/mt, with a premium of 0-50 yuan/mt against the SHFE lead 2502 contract. SHFE lead remained in a consolidation phase, while the spot market saw limited activity as the Chinese New Year approached, with an increase in logistics vehicle suspensions. Suppliers provided few quotations, downstream enterprises largely halted procurement, and only a few participants remained on the sidelines, resulting in sluggish market trading.
Other markets: Today, the SMM 1# lead average price fell by 25 yuan/mt compared to the previous trading day. With downstream restocking completed, market transactions were sparse. In Henan, some suppliers quoted a discount of 50-0 yuan/mt against the SMM 1# lead average price, while in Hunan, Yunnan, and Guangdong, there were almost no quotations, leading to weak market activity.
