SMM Shanghai and Other #1 Lead Markets: SHFE Lead Shows Consolidation Trend, Trading in Spot Market Improves Regionally [SMM Midday Review]

        SMM News on May 14: In the Shanghai market, Chihong lead was quoted at 16,865-16,915 yuan/mt, with quotations against the SHFE lead 2506 contract at discounts of 50-20 yuan/mt or at parity with the SHFE lead 2505 contract. Honglu lead was quoted at 16,915-16,935 yuan/mt, with quotations at parity with the 2506 contract. JCC lead in Jiangsu and Zhejiang regions was quoted at 16,895-16,935 yuan/mt, with quotations against the 2506 contract at discounts of 20-0 yuan/mt. SHFE lead maintained a consolidation trend, and suppliers shipped goods according to market conditions, with some quotations seeing further discounts. Meanwhile, ex-factory quotations for cargoes self-picked up from primary lead smelters were at discounts of 50 yuan/mt to premiums of 100 yuan/mt against the SMM 1# lead average price. There were fewer quotations in the secondary lead market, with some secondary refined lead quotations at parity with the SMM 1# lead average price. Downstream enterprises purchased as needed, and spot market transactions improved regionally.

        Other markets: Today, the SMM 1# lead price remained unchanged from the previous trading day. During the day, SHFE lead weakened slightly. Suppliers in Henan province offered discounts of 160-150 yuan/mt against the SHFE lead 2506 contract. Smelters in Hunan province maintained discounts of 50-30 yuan/mt against the SMM 1# lead average price or offered discounts of 210 yuan/mt against the SHFE lead 2506 contract, with some transactions meeting immediate demand. Smelters in Anhui and Jiangxi provinces offered premiums of 100 yuan/mt against the SMM 1# lead average price ex-factory, with good transaction volumes, and some cargoes were pre-sold up to three days in advance. In Guangdong province, suppliers' cargoes self-picked up from production sites were transacted at premiums of 80 yuan/mt against the SMM 1# lead average price. Compared with yesterday, the spot market situation improved slightly.