Lead Prices Hover at Highs; Downstream Enterprises Remain Cautious in Purchasing

[SMM Shanghai and Other 1# Lead Markets: Lead Prices Hover at Highs, Downstream Enterprises Cautious in Purchasing]

SMM, March 19: In the Shanghai market, Chihong lead was quoted at 17,625-17,690 yuan/mt, with premiums of 10-30 yuan/mt against the SHFE 2504 contract. In Jiangsu and Zhejiang regions, Tongguan, JCC, and Jinde lead were quoted at 17,615-17,660 yuan/mt, on par with the SHFE 2504 contract. SHFE lead hovered at highs, and market circulation of cargoes was limited. Suppliers stood firm on quotes, with ex-factory primary lead cargoes still offered at premiums, showing little change in premium levels compared to the previous day. Secondary refined lead was quoted at discounts of 75-0 yuan/mt against the SMM 1# lead average price, ex-factory. Downstream enterprises showed moderate interest in inquiries and were cautious in purchasing high-priced goods, leading to weak transactions in the spot order market.