SHANGHAI, Jan 20 (SMM) - Despite the low SHFE lead price, the monthly price of SMM 1# lead ingots only declined 28 yuan/mt from 15,521.59 yuan/mt last Friday to 15,493.18 yuan/mt this Thursday. Therefore, the profits of secondary lead smelters that mainly ship in the form of long-term orders were still relatively high. According to the prices and premiums set in the long-term orders, the profits of these smelters were around 200-500 yuan/mt. At the same time, the profits of retail transactions remained at around 0-300 yuan/mt. Therefore, most secondary refined lead smelters that mainly trade long-terms orders maintain normal production during the CNY holiday, while those mainly sell in the spot market took holidays due to the weak demand and declining prices amid the approaching Chinese New Year.