SMM Shanghai and other #1 Lead Markets Midday Review: Shanghai Lead Retraced Previous Gains, Spot Market Transactions Lackluster.

On September 4th, SMM reported that Chihong Lead was quoted at 16765 yuan/ton in Shanghai market, with flat price against Shanghai Lead 2309 contract; Jinjin and Jiangtong Lead were quoted at 16755-16775 yuan/ton in Jiangsu and Zhejiang market, with a discount of 10 yuan/ton to a premium of 10 yuan/ton against Shanghai Lead 2309 contract. Shanghai Lead basically retraced the gains from last Friday, with holders following suit and shipping out, while some were willing to make deliveries, and prices were still relatively firm. Meanwhile, some...