【Spot Lead in Shanghai: Basis between Near and Far-month Contracts of Shanghai Lead Further Widened, Downstream Enterprises Hesitate to Purchase in Fear of Price Drop】

SMM reported on July 25th that in the Shanghai market, the price of Chihong lead was reported at 19,600-19,660 yuan per ton, representing a premium of 100 yuan per ton compared with the Shanghai lead contract 2408. In Jiangsu and Zhejiang regions, Jiangtong and Jinde lead were priced at 19,550-19,660 yuan per ton, representing a premium of 50-100 yuan per ton compared with the Shanghai lead contract 2408. Shanghai lead continued its fluctuating downtrend, and during this period, the price difference between contract 2408 and contract 2409 continued to widen, exceeding 800 yuan per ton...