[Shanghai Lead Spot: Shanghai Lead Inter-month Basis Narrows While Sec

Published: Jul 31, 2024 12:05

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[Shanghai Lead Spot: Shanghai Lead Inter-month Basis Narrows While Secondary Lead Discount Widens, Diverting Downstream Rigid Demand] SMM July 31: In the Shanghai market, Chihong Lead was quoted at 19,660-19,670 yuan/ton, with a premium of 50 yuan/ton over the SHFE 2408 contract; in Jiangsu and Zhejiang regions, Jiangtong and Jinde Lead were quoted at 19,610-19,670 yuan/ton, with a discount of 0-50 yuan/ton over the SHFE 2408 contract. Shanghai Lead fluctuated upwards, during which the price difference between the 2408 and 2409 contracts narrowed. Coupled with the increase in the circulation of non-delivery brand supplies, the holding traders lowered their premium quotes. Meanwhile, secondary lead...

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