SMM Shanghai and Other 1# Lead Markets: SHFE Lead Fluctuates Upward, but the Spot Market Has Entered Holiday Mode [SMM Midday Review]

Published: Jan 27, 2025 12:28

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SMM Shanghai and Other 1# Lead Markets: SHFE Lead Maintained Fluctuate Upward, but the Spot Market Has Entered Holiday Mode SMM, January 27: Today marked the last trading day before the Chinese New Year. SHFE lead maintained a fluctuating upward trend, and the contracts showed a backwardation structure. Suppliers have basically stopped quoting...

SMM January 27 News: Today marked the last trading day before the Chinese New Year. SHFE lead maintained a fluctuating upward trend, and contracts showed a backwardation structure. Suppliers had mostly stopped quoting prices, coupled with logistics suspension and widespread production halts for holidays downstream, leaving the spot market stagnant and in a state of no price and no market.

Other Markets: Today, the SMM 1# lead average price dropped by 50 yuan/mt compared to the previous trading day. With upstream and downstream enterprises in the industry chain on holiday and logistics suspended, market transactions came to a halt, creating a strong holiday atmosphere.

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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