【SMM Morning Meeting Summary of Lead Market: Limited Supply of Recycle

Published: Jun 25, 2024 08:13

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【SMM Morning Meeting Summary of Lead Market: Limited Supply of Recycled Lead Led to Strong Quotes, Downstream Buyers Tend to Favor the Primary Market for Their Immediate Needs】Overnight, LME lead opened at US$2,187.5 per ton. Overseas lead inventory declined, and after touching a high of US$2,201.5 per ton in the Asian session, it fluctuated around the intraday moving average. In the European session, LME lead rose slightly before diving to a low of US$2,161 per ton, and finally closed at US$2,163 per ton. In the Shanghai market, prices ranged from RMB18,915 to RMB18,975 per ton for Chi Hong lead, with a premium of RMB30 to RMB50 per ton over the SHFE lead contract 2407. In Jiangsu and Zhejiang regions, Jiangxi Copper and Tongguan lead were quoted at RMB18,905 to RMB18,975 per ton, with a premium of RMB20 to RMB50 per ton over the SHFE lead contract 2407. SHFE lead traded in a range, and suppliers quoted prices based on market conditions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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