SHANGHAI, Jan 20 (SMM) - In the first four days of this week, the SHFE lead prices remained low. Although the SHFE 2303 lead contract rose sharply on Monday, the prices failed to remain high and declined. In the domestic spot market, the price difference between refined lead and secondary refined lead narrowed to around 100 yuan/mt last Friday and remained stable after narrowing to 75 yuan/mt this Wednesday. However, due to low lead prices, the selling prices of spots offered by secondary lead smelters were close to the break-even point. In the follow-up stage, SMM will pay attention to the resumption of secondary lead smelters after the CNY holiday as the narrow price difference may provide a certain support for SHFE lead price.