[SMM Analysis: Widening Spread Between Futures and Spot Prices Drives Transfer to Delivery Warehouse, Social Inventory of Lead Ingots Rises Again] SMM News on June 5: According to SMM, as of June 5, the total social inventory of lead ingots across five locations tracked by SMM reached 53,900 mt, an increase of 4,500 mt from May 29 and an increase of 4,000 mt from June 3.

[SMM Shanghai and Other 1# Lead Markets: Downstream Enterprises Purchasing as Needed, Spot Lead Transactions Mixed] SMM June 5 report: In the Shanghai market, Chihong and Honglu lead were priced at 16,675-16,725 yuan/mt, quoted at a discount of 20-0 yuan/mt against the SHFE lead 2506/2507 contracts. The center of SHFE lead prices gradually moved higher, with suppliers actively quoting and selling...

Overnight, LME copper opened at $9,640/mt, touching a low of $9,603.5/mt shortly after the opening bell.

[SMM Morning Lead Meeting Summary: Lead futures rise slightly, with limited rigid demand and thin trading among downstream enterprises] Domestic lead prices have rebounded after testing the bottom support recently, but still remain in the doldrums. Downstream enterprises have conducted limited restocking for rigid demand, with many adopting a wait-and-see attitude.

As the world places increasing emphasis on the sustainable use of resources and environmental protection, the status of the secondary metal market within the global metal industry has become increasingly prominent.

[SMM Shanghai and Other 1# Lead Markets: Rising Lead Prices Dampen Downstream Buying Sentiment, Spot Cargo Transactions Weaken Again] SMM June 4 Report: In the Shanghai market, Chihong and Honglu lead are priced at 16,530-16,550 yuan/mt, quoted at a discount of 20-0 yuan/mt against the SHFE lead 2506/2507 contracts. After the SHFE lead prices surged and then pulled back in the early session, suppliers sold their cargoes at market prices, with some offering at small discounts...