SMM Research: Lead prices fall to nearly one-month low, downstream demand stimulates inventory digestion

According to research, Shanghai lead has continued to decline recently, with the main contract price falling to a near one-month low. During this period, the price difference between futures and spot markets has gradually narrowed to within 200 yuan/ton, leading to a decrease in the advantage of factory delivery sources compared to warrant delivery. At the same time, the enthusiasm for shipments from primary and secondary lead smelters has also decreased...