SMM Shanghai and Other 1# Lead Markets: SHFE Lead Fluctuates Upward, Spot Lead Generally Trades at Large Discounts [SMM Midday Review]

게시됨: Feb 14, 2025 12:10
SMM Shanghai and Other 1# Lead Markets: SHFE Lead Fluctuated Upward, Spot Cargoes Mostly Traded at Large Discounts SMM, February 14: Few quotations were seen in the Shanghai market; JCC and Jijin lead in Jiangsu and Zhejiang regions were quoted at 17,135-17,215 yuan/mt, with discounts of 20-0 yuan/mt against the SHFE lead 2503 contract. SHFE lead fluctuated upward, and suppliers were mostly active in offloading cargoes, though some enterprises held back due to low inventory levels...
        SMM, February 14: Quotations in the Shanghai market were scarce; in Jiangsu and Zhejiang regions, JCC and Jijin lead were quoted at 17,135-17,215 yuan/mt, with discounts of 20-0 yuan/mt against the SHFE 2503 contract. SHFE lead fluctuated upward, and suppliers were mostly active in selling. However, some enterprises, due to low inventory levels, offered relatively firm quotations. Mainstream smelters' cargoes self-picked up from production sites were quoted at discounts of 50 yuan/mt to premiums of 150 yuan/mt against the SMM 1# lead average price on an ex-factory basis. For secondary lead, secondary refined lead was quoted at discounts of 120-0 yuan/mt against the SMM 1# lead average price on an ex-factory basis. Downstream enterprises purchased as needed, with transactions leaning towards large-discount low-priced cargoes. Spot market transactions improved day by day.         Other markets: Today, the SMM 1# lead price rose by 25 yuan/mt compared to the previous trading day. In Henan, suppliers quoted discounts of 180-200 yuan/mt against the SHFE 2403 contract, with downstream buyers actively negotiating prices. Some traders concluded transactions at discounts of 50-0 yuan/mt. In Hunan, smelters quoted premiums of 0-50 yuan/mt, while in Yunnan, discounts of 300 yuan/mt were quoted for limited rigid demand transactions. Transactions in Yunnan were still mainly based on long-term contract cargo pick-up, with rigid demand transactions slightly improving compared to the beginning of the week.

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