Non-Ferrous Metals Rose Generally, To See Whether the Lead Prices Would be Stable at 14,900 yuan/mt

[Lead Spot Market Update] It was learned that recently lead prices trended weakly, and downstream lead-acid battery enterprises generally bought the dip, with purchases concentrated in the primary lead sector. Smelters' in-factory inventories in major primary lead producing areas, represented by Henan, declined significantly, and lead ingot dispatches faced queues. Today, spot lead quotation discounts narrowed substantially. The latest trader's EXW cargo pick-up quotation was at parity against the SHFE lead 2607 contract. Yesterday, the transaction price was at a premium of 0~25 yuan/mt against the SMM #1 lead average price, ex-works (i.e., a discount of 140~120 yuan/mt against the SHFE lead 2607 contract).