SMM 1# Lead Market in Shanghai and Other Areas: Lead Prices Reversed Trend and Fell, Varied Sentiment in Spot Market [SMM Midday Review]

게시됨: Mar 21, 2025 12:24

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SMM Shanghai and Other 1# Lead Markets: Lead Prices Reversed and Declined, Divergent Sentiment in Spot Market SMM, March 21: In the Shanghai market, Chihong lead was quoted at 17,500-17,570 yuan/mt, with a premium of 0-20 yuan/mt against SHFE lead 2504 contract; in the Jiangsu and Zhejiang regions, Tongguan, JCC, and Jinde lead were quoted at 17,500-17,550 yuan/mt, on parity with SHFE lead 2504 contract. SHFE lead pulled back, especially during the latter part of the trading session, as the center of SHFE lead prices moved lower...

SMM March 21: In the Shanghai market, Chihong lead was quoted at 17,500-17,570 yuan/mt, with premiums of 0~+20 yuan/mt against the SHFE 2504 contract; in the Jiangsu and Zhejiang regions, Tongguan, JCC, and Jinde lead were quoted at 17,500-17,550 yuan/mt, on parity with the SHFE 2504 contract. SHFE lead pulled back, especially during the latter part of the trading session, as the center of SHFE lead's operation shifted downward, nearly erasing all gains from the previous day. Downstream enterprises increased inquiries, and purchasing situations varied among different companies. Some remained cautious and observed, while others mainly purchased under long-term contracts at month-end, and some bought the dip as needed, leading to a relatively improved trading atmosphere. Additionally, secondary refined lead was quoted at discounts of 200~0 yuan/mt ex-factory against the SMM 1# lead average price, with some expanding discounts out of panic and others standing firm on quotes due to cost considerations.

Other markets: Today, the SMM 1# lead price fell by 50 yuan/mt compared to the previous trading day. In Henan, smelters mainly shipped under long-term contracts, and with the approach of month-end, the supply of circulating goods in the market was relatively limited. Suppliers quoted at premiums of 50-100 yuan/mt against the SMM 1# lead or at discounts of 180 yuan/mt against the SHFE 2505 contract. In Hunan, suppliers quoted at premiums of 50-100 yuan/mt against the SMM 1# lead. In Yunnan, quotations were at discounts of 170-180 yuan/mt against the SMM 1# lead, with limited transactions. During the day, as SHFE lead weakened, some smelters slightly lowered their premiums and discounts. Downstream buyers purchased the dip as needed, and market transactions improved slightly compared to the previous day.

데이터 출처 설명: 공개 정보를 제외한 모든 데이터는 SMM이 공개 정보, 시장 커뮤니케이션 및 SMM 내부 데이터베이스 모델을 기반으로 가공한 것입니다. 본 자료는 참고용이며 의사결정 권고를 구성하지 않습니다.

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